[SMM Nickel Morning News] macroscopically good Nickel Night Market pulled up sharply Today, focus on the pressure operation of Shanghai Nickel 109000 / tonne / Lunni 13600 / tonne pass.

Published: Jul 13, 2020 08:50

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[futures Nickel brief Review] overnight Shanghai Nickel 10 contract closed at Zhongyangzhu, Shanghai Nickel reached a new high after the new year, Boll line opening trend increased, k-column pressure on the track 109000 yuan level operation, today focus on whether Shanghai Nickel can continue the upward trend to explore this barrier. Lunni closed in the positive column of the long lower shadow line on Friday, the K-column waist pierced the 5-day moving average, stood above the 10-day moving average, the shadow line went down to explore the 10-day moving average, the lower averages were neatly arranged, and Lunni had strong downward resistance. Lunni opened at 13555 US dollars / ton today. Today, we will focus on the resistance of 13600 US dollars / ton above Lunni.

SMM, July 13:

§there is less fundamental correlation among the leading factors of short-term nickel price; from a fundamental point of view, short-term bearish is still concentrated on electrolytic nickel with a continuous increasing trend in inventory, while the output of 300 series stainless steel remains high to steadily support domestic primary nickel consumption. and from the market performance this week, high nickel pig iron has fallen to a short-term low, some traders have hoarding operations. In the stainless steel market, the current price can remain stable, and there is the possibility that the price will be affected by the increase in the arrival of goods in the later stage; macroscopically, overseas data are still under the influence of the epidemic but continue to improve marginally. in the general environment, overseas is still following the logic of consumer recovery, coupled with the policy support of enterprises in various countries have a certain effect, the macro-level relative preference; under the comprehensive effect, the nickel price is strong. Taking into account that there are no signs of long funds reducing positions, although nickel prices may be adjusted appropriately within the next week, the overall momentum is still strong, with 105000won / ton of Shanghai nickel and 13,750 US dollars / ton of Lunni.

Shanghai nickel opened high on Friday night, macro mood improved, capital inflow superimposed crude oil demand recovery time ahead of schedule, crude oil rose sharply, and commodities generally turned red. Shanghai nickel opened overnight at 105800 yuan / ton, and the rising trend below 107000 yuan / ton was relatively slow. after breaking through this barrier, Shanghai nickel rose to 108000 yuan / ton, and the pressure fell slightly to 107600 yuan / ton, and then continued the previous upward trend. After exploring a high of 108660 yuan / ton in night trading, bulls left Shanghai Nickel at the end of the day and fell slightly to close at 108270 yuan / ton, up 2820 yuan / ton, or 2.67%, over the previous day's settlement price. The trading volume was 566000 lots, and the position increased by 11000 lots to 145000 lots. Overnight Shanghai Nickel 10 contract closed at Zhongyangzhu, Shanghai Nickel reached a new high after the new year, Boll line opening trend increased, k-column pressure on the track 109000 yuan level operation, today pay attention to whether Shanghai Nickel can continue the upward trend to explore this barrier.

Lenny opened at US $13230 / ton last week. Before noon, Lunni fluctuated slightly around US $13220 / ton, fluctuated downward under pressure at position 13270, fell below US $13050 / ton, and did not fall below this support level for many times. Lenny began to turn upward at 20: 00 p.m., macroscopically positive. Lenny took advantage of the trend to pull all the way up to 13570 yuan / ton, slightly fluctuated at the end of the day, and finally closed at 13560 US dollars / tonne, up 355 US dollars / ton compared with the previous trading day. It rose 2.69% to 7270 lots, while its position decreased by 255lots to 202000 lots. Lunni closed in the positive column of the long lower shadow line on Friday, the K-column waist pierced the 5-day moving average, stood above the 10-day moving average, the shadow line went down to explore the 10-day moving average, the lower averages were neatly arranged, and Lunni had strong downward resistance. Lunni opened at 13555 US dollars / ton today. Today, we will focus on the resistance of 13600 US dollars / ton above Lunni.

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