SunSirs: The Morning Post of Nickel on October 11th

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

At present, the market is waiting for China to announce further stimulus measures, coupled with the boost of the weakening of the US dollar, making goods priced in US dollars cheaper for buyers who use other currencies for payment. Therefore, the London metal market fluctuated and closed higher overnight, and nickel prices shook off the previous day's decline and closed higher. The three-month nickel futures in London closed at 17,550 US dollars per ton, partially recovering from the previous decline during trading, with an increase of around 1.0%. Although prices have risen again, some analysis suggests that short-term demand risks still exist and price trends need to be viewed with caution.

Domestically, the Shanghai nickel futures opened high and rose in the evening session, oscillating and closing up, breaking free from the pressure of short-term moving averages. The final reported price was 133,880 RMB/ton, with an increase of 1,490 RMB/ton or 1.13%.

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