SunSirs: The Morning Post of Nickel on September 10th

https://www.chemnet.com   Sep 10,2024 SunSirs

Due to market attention to US inflation data and expectations of domestic economic stimulus measures, the overnight decline in the London metal market slowed down, with most varieties fluctuating and closing higher, and nickel prices reversing their downward trend. The three-month nickel intraday decline in London did not expand further and remained largely unchanged, ultimately closing at 15,945 US dollars per ton.

At present, the latest data shows that China's producer price deflation intensified in August, reflecting difficulties in economic growth, and China's inflation data has raised expectations that China may introduce more economic stimulus measures; At the same time, investors will also look forward to the inflation data released by the United States this week, which may provide guidance for the Federal Reserve's interest rate cut next week.

Domestically, the Shanghai nickel futures fluctuated at a low level during the night trading session and continued to decline, hitting a new low again during the trading session. The final reported price was 122,050 RMB/ton, with a decrease of 410 RMB/ton or 0.33%.

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