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Nickel poised to fluctuate

Date 10/11/2018 2:15:15 PM Source: SHMET

SHANGHAI, Oct 11 (SHMET) – Macro risk of uncertainties frequently occurred, nickel trend is fluctuating. It is suggested to be on the sidelines temporarily.

 

On Wednesday night, stock market in Europe and the United states plunged, dragging down nonferrous metals market. SHFE three-month nickel closed at 105,130 yuan/mt, down 960 yuan, or 0.90%.

 

In the spot market, Jinchuan Group finished its maintenance, but still not fully restores supplies, tightening supply of Jinchuan goods. Jinchuan premium slightly fell, but is still at a high level. Imported cargoes have poured into domestic market after the holiday and spot market supply is sufficient. Most of the downstream replenish stocks on-demand, with spot transaction being flat.

 

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Edited by SHMET