[brief comment on SMM nickel] Shanghai nickel fell below multiple averages by more than 3 per cent today

SMM, July 2 / PRNewswire-Asianet /-

Shanghai nickel 1908 opened at 98760 yuan / ton today, during the day, the overall pressure daily average weak shock operation. At the beginning of the day, Shanghai nickel 08 pressure daily moving average all the way down, to 97200 yuan / ton first line narrow range shock. In the afternoon, Shanghai nickel 08 rose slightly to 97800 yuan / ton, then fluctuated slightly to close at 97510 yuan / ton, down 3520 yuan / ton, or 3.48%, from the previous day's settlement price, trading volume decreased 139000 hands to 660000 hands, and position volume decreased 22600 hands to 147000 hands. Non-ferrous today generally fell, the main Shanghai nickel contract closed in the middle of the day, has fallen below the average and Boll line in the middle of the track, there is no other support below, the Shanghai nickel index today outflow of 288 million yuan. Shanghai nickel is expected to continue to weaken in the evening, the center of gravity or around 97000 yuan / ton first-line shock operation.

The evening focused on the monthly and annual rates of commercial retail sales for the week ended June 29 in the United States.