Sino-US trade tensions continue to rise nickel prices continue to shift the center of gravity

Every other night, Len Nickel opened at $1,500 per ton. At the beginning of the plate, nickel fluctuates up and down the average daily line. At noon, the center of gravity is $15022 per ton of horizontal trays. In the afternoon, the impact of the rising dollar and the escalation of the Sino-U.S. trade war, Lun Nickel ran under pressure, and the shock leaked, gradually moving away from the average daily line and bottoming out at US$ 14,580 per ton. The lower 60 daily average line supports, followed by a narrow fluctuation of the center of gravity around 14,655 US dollars per ton. In the evening, the U.S. dollar fell back after hitting the 95 pass, and the center of gravity of Lun Nickel moved slightly upwards. It fluctuated below the average daily line at 14,725 U.S. dollars. It closed at 14,720 U.S. dollars per ton, and the trading volume increased by 8,260 hands to 12,759 hands. The amount of holding decreased by 2,740 hands to 268,000 hands. Inventory reduced by 54 tons to 275,658 tons.

The overnight nickel 1809 opened at 112,580 yuan/ton. In the evening, after the US dollar hit the 95 pass, the shock fell back. At the beginning of the day, Shanghai nickel rose slightly. Afterwards, due to the influence of the overall macro profit and the strong trend of the US dollar, Shanghai nickel operated weakly, fluctuating up and down the daily average and supporting the lower sixty daily average. At 113,010 yuan per ton, the turnover decreased by 209,000 hands to 325,000 hands, and the holding capacity increased by 16228 hands to 345,000 hands.

Trade tensions between China and the United States continued to rise overnight, but the US dollar rose strongly to a new 11-month high, boosted by expectations of US rate increases and US economic data. Basic metals have been depressed by growing concerns about the U. s.-china trade war, a stronger dollar and expectations of Chinese demand. The price of nickel in the outer plate continued to return. However, domestic and foreign stocks continue to decline, the domestic import window continues to close, or to some extent support the depth of the correction. It is expected that the center of gravity of Lun nickel will continue to move downward today. The main contract of Shanghai nickel will run from 11,500 to 113300 yuan/ton in 1809, and the spot price will be 112,500 to 11,4500 yuan/ton.

The page contains the contents of the machine translation.