SMM, July 6:
Last week, the nickel price basically fluctuated in the previous position range, and the fundamentals were weak but mostly known news, such as the increase in the supply of nickel pig iron and the pressure on stainless steel market shipments in the off-season, etc., as a whole, the short-term contradiction is not obvious; in the macro aspect, some overseas data are bright, and in the major links, we can see that overseas countries are still following the logic of consumer recovery, coupled with the fact that national policies support enterprises to have a certain effect, and the macro side is relative preference. Under the comprehensive action, the nickel price fluctuates in the range. Nickel prices are likely to fall back high next week, focusing on whether long positions can hold on to a breakthrough. Shanghai Nickel 102000MUR 107,500 yuan / ton, Lunni 12650USD13300 / ton.
Last Friday, the main contract of Shanghai Nickel changed month to 2010 contract, and the overnight Shanghai Nickel 10 contract opened at 106030 yuan / ton last Friday. The short positions increased sharply after the night trading opened, and the bulls did not have enough confidence to follow. Shanghai Nickel concussion fell below the 105000 barrier to explore a low night low of 104620 yuan / ton, and then rebounded slightly, and the center of gravity returned to around 105000 yuan / ton again, fluctuating narrowly until the close. At 104880 yuan / ton, the settlement price fell 960 yuan / ton, or 0.91%, compared with the previous trading day. The trading volume was 308000 lots, and the position increased by 7412 lots to 101000 lots. The overnight Shanghai Nickel 10 contract closed at the small negative column last Friday, with the K-pillar stable station above the moving average and the position of 105000 yuan / ton under pressure and oscillation. this week, the United States will release some important economic data, which is expected to perform well, and be on guard against the short-term fluctuations brought about by the data area. test the pressure at the 105000 gate today.
The Lunni Asian market opened at 12915 US dollars / ton today. At the beginning of the session, it followed the rising trend of Shanghai Nickel, breaking through to 13060 US dollars / ton, while the pressure fell back to 13000 US dollars / ton consolidation. In the afternoon, Lunni followed the rise of Shanghai Nickel again, rising continuously to US $13110 / ton from the Wansan pass. After the Asian market closed, Lunni continued its upward trend, reaching a high of US $13130 / ton, a high for nearly five months, and a high at night. The downside fell below the Wansan pass support, and the support position changed into the pressure level. Lunni closed at 12975 US dollars / ton at the end of the day, rising 55 US dollars / ton compared with the previous trading day. Rose 0.43%, Lunni closed at the small positive pillar of the long shadow line last Friday, Lunni closed for 6 consecutive days, and the K-column extended the 5-day moving average. Lunni opened at 12985 US dollars / ton today. Today we are concerned about whether Lunni will continue the shock and strength of last week's trend. Today, we will pay attention to the pressure at the Lunni Wansan pass.
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