SunSirs: The Morning News of Nickel on June 11th

https://www.chemnet.com   Jun 11,2024 SunSirs

Overnight, as the focus of market attention shifted towards fundamentals, most varieties in the London metal market fluctuated and closed positive. However, due to the impact of Indonesia, the largest producer, having released a nickel production quota for the next three years, which is 240 million tons per year, the nickel price trend still performed poorly.

The three-month nickel futures in London experienced a intraday decline of around 3.0%, with little change in the overnight trend, and ultimately closed at 19,025 US dollars per ton. In addition, the strengthening of the US dollar has made commodities priced in the US dollar more expensive for buyers using other currencies.

Domestic futures market, overnight trading of Shanghai nickel was closed due to the Dragon Boat Festival holiday, and it reopened on June 11th.

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