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SHFE nickel prices track strength seen on LME
Nickel prices on the Shanghai Futures Exchange were up strongly during morning trading on Wednesday March 27, tracking the strength exhibited by the three-month nickel price on the London Metal Exchange on Tuesday.
The most-traded May nickel contract on the SHFE stood at 101,550 yuan ($15,124) per tonne as at 9.53am Shanghai time on Wednesday, up by 1.8% or 1,810 yuan per tonne from Tuesday’s close of 99,740 yuan per tonne.
This morning’s strength follows a similar performance by the three-month nickel price on the LME on Tuesday, when it closed up by 1% at $13,105 per tonne, with the price finding support from the emergence of dip-buying.
Promising downstream demand continues to lend support to nickel despite the metal’s less positive fundamentals.
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SHFE nickel prices track strength seen on LME
Nickel prices on the Shanghai Futures Exchange were up strongly during morning trading on Wednesday March 27, tracking the strength exhibited by the three-month nickel price on the London Metal Exchange on Tuesday.
The most-traded May nickel contract on the SHFE stood at 101,550 yuan ($15,124) per tonne as at 9.53am Shanghai time on Wednesday, up by 1.8% or 1,810 yuan per tonne from Tuesday’s close of 99,740 yuan per tonne.
This morning’s strength follows a similar performance by the three-month nickel price on the LME on Tuesday, when it closed up by 1% at $13,105 per tonne, with the price finding support from the emergence of dip-buying.
Promising downstream demand continues to lend support to nickel despite the metal’s less positive fundamentals.
For More Information Contact Us-9719026661
https://api.whatsapp.com/send?phone=919720003255
www.RoyalTraders.co
Best Accuracy Of Royal Traders
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