Affected by trade wars, nickel prices continue to change

The overnight nickel plate opened at $15,455/ton. At the beginning of the session, the US dollar weakened and boosted. Nickel rose slightly, touched 15545 USD/ton higher, and the 5-day moving average above the pressure fell back and oscillated. At noon, the focus is on the $15,445/ton sideways. In the afternoon, Lun Nickel continued to oscillate and vented. It touched the bottom of $15,350/ton and returned to step on the 10-day moving average to get support. During the European time, Lun Nickel returned to the daily average and fluctuated around the daily average. In the evening, due to the strength of the US dollar, the nickel price was slightly vented, and then the focus was on the $15,280/ton consolidation, closing at $15,260/ton. Volume decreased by 2,279 lots to 4,386 lots, and positions decreased by 264 lots to 263,000 lots, and stocks increased by 126 tons to 279,120 tons.

Overnight Shanghai Nickel 1809 opened at 115,620 yuan / ton. Affected by the strength of the US dollar and the risk of a trade war, the market sentiment was cautious. In the evening, Shanghai nickel oscillated down, gradually moving away from the daily average, and then focused on a narrow range of 114,870 yuan / ton. Closed at 114,840 / ton, the volume increased by 76,000 hands to 346,000 hands, holdings increased by 13,000 hands to 393,000 hands.

The US 10-year bond yields rose overnight. The market generally expects the Fed to raise interest rates twice this week to support the dollar to resume its gains. The G7 peak will increase the risk of a trade war. The market sentiment was cautious, the overall metal shocks were weak, and the internal and external nickel prices continued to move downward. Today, the nickel shock is weak, the Shanghai nickel main contract 1809 operating range 114100 ~ 116000 yuan / ton, the spot price 114500 ~ 116000 yuan / ton.

The page contains the contents of the machine translation.