Home / Metal News / Nickel / [SMM Nickel Morning News] Nickel Nickel at night fell due to the impact of the US GDP annualization rate less than expected.
[SMM Nickel Morning News] Nickel Nickel at night fell due to the impact of the US GDP annualization rate less than expected.
Jul 31,2020 08:46CST
The content below was translated by Tencent automatically for reference.

SMM7 March 31:

Last night, the actual annualized quarterly rate of GDP in the United States in the second quarter was-32.9%. London Metals fell, dragging down the domestic market. The overnight Shanghai Nickel 10 main contract opened at 110500 yuan / ton, and after opening low, the short positions increased the position and went up to explore a night high of 111310 yuan / ton, followed by the decline of Lunni, the short positions fell sharply, and Shanghai Nickel went all the way down to 109200 yuan / ton. then the shock rose back to 110700 yuan / ton, the center of gravity of the position fluctuated slightly around 110400 yuan / ton until the close, and finally quoted at 110340 yuan / ton, down 1000 yuan / ton compared with the previous trading day. It fell 0.90% to 576000 lots, and its position decreased by 12000 lots to 143000 lots. Last night, Shanghai Nickel closed at the Xiaoyin column of the long shadow line last night, the lower shadow line pierced the 5 / 10 moving average line, and the K column stood above the 5-day moving average line. Today, we are concerned about whether Shanghai Nickel can stabilize the 5-day average line 110000 level.

Lunni Asian market opened at 13905 US dollars / ton today, first suppressed and then rose after opening, fell to 13840 US dollars / ton and then rebounded sharply. Lunni rose to 13990 US dollars / ton and then adjusted horizontally until the end of the morning market. Dragged down by the precious metal diving at noon, the center of gravity fluctuated around a wide range of 13900 US dollars / ton after turning red and green. After entering the European trading session, the rebound of the US dollar caused Lenny to fall again and fall continuously, the position of 13740 US dollars / ton was supported and rose back to 13880 US dollars / tonne, and the pressurized daily average fell again, reaching yesterday's low of 13590 US dollars / tonne, and the dollar index fell sharply at the end of the day. Renni concussion rose to 13800 US dollars / ton and finally closed at 13785 US dollars / ton, down 135US dollars / ton, or 0.97%, compared with the previous trading day. The turnover was 8082 lots, and the position decreased by 264 lots to 198000 lots. Lunni closed last night at the small negative column of the long lower shadow line, the K column stood above the 5-day moving average, probed the $13600 / ton mark under the shadow line, and failed to explore US $14000 / ton many times. Lunni opened at US $10810 / ton today. Today, we will pay attention to the shock situation of Lunickel under pressure of 14000 US dollars / ton.

For more information, please subscribe to SMM Nickel Research Group products "China Ni-Cr stainless Steel Industry chain routine report" and "China Ni-Cr stainless Steel Industry chain High-end report" to get the latest data analysis and market analysis of nickel ore, nickel pig iron (China + Indonesia), electrolytic nickel, nickel sulfate, chromium ore, ferrochrome and stainless steel (China + Indonesia). For order and trial, please call 021-5166 6775 QQ: 1553928752, contact: Zhang Lingying]

(Shanghai Colored Network Zhang Lingying TEL:021-5166 6775 QQ: 1553928752)

"SMM online Q & A" has come to the market, price, information if you have any questions, feel free to ask!

Scan the QR code and join the SMM metal communication group.

Nickel price
trend Forecast
SMM brief Review
Daily Review
Lunni Futures Review

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news