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Ni week review: nickel or ended higher after initially falling next week ( 6. 20 - 6. 24)

by:Deyuan      2020-12-23
Conclusion: influenced by British referendum, acquisition of nickel, zhou weeks trading range is 8790 - $9315 / ton, Shanghai jinchuan nickel clinch a deal the interval in 70000 - the spot market 71900 yuan/ton. Next week's nickel ended higher after initially falling as main range or - in 8650 $9100 / ton. Nickel market review

figure 1: the LME three-month nickel market day K line

nickel Aaron rose on Monday, and form a technical breakthrough, Tuesday through Thursday to high and volatile, Asian trading time fell sharply on Friday. Weeks nickel trading range is 8790 - $9315 / ton, price 525 dollars/tons, significantly increased from last week. The Shanghai futures exchange nickel contract trading range is 70010-1609 73400 yuan/ton, contract trading range is 71330-1701 74690 yuan/ton.
Shanghai jinchuan nickel spot market clinch a deal this week interval in 70000 - 71900 yuan/ton, the former after the high low, submitted to the 7000 - on Friday 70300 yuan/ton, up 400 - last Friday 500 yuan/ton. Nickel clinch a deal the interval in 69600 - in Russia Submitted to the 69600-71600 yuan/ton, Friday 69900 yuan/ton, up 300 - last Friday 400 yuan/ton.
from Monday to Thursday, nickel prices strong main benefit from the supply and demand structure gradually improve, if money to re-examine nickel prices. Nickel prices plunge Friday mainly by Britain withdrew the referendum. Return the UK or make a uncertainty in the global economy, risk aversion over financial markets, nickel and other metal assets under high pressure.

2, nickel prices trend next week looking
the referendum results, withdrawal from the eu a foregone conclusion. Britain withdrew the impact on the world economy is still difficult to measure, the world's major central Banks have contingency plans, it's not clear, the world's major financial still faces huge uncertainty, not sure the risk.
is expected the next period of time, risk aversion will remain shrouded in financial markets, risk assets is expected to price in the short term will remain under pressure, upward. The next focus on the emergency measures of all related parties. Comprehensive look, Britain withdrew the possibility is not big, set off a new financial crisis metal medium term will still return to its own fundamentals.
after Friday tumbled, nickel original rose pattern is broken, nickel dropped to near the medium-term average, expected short-term price will remain under pressure, the support level near $8700 / ton, the support level near $8400 / ton. Next week ended higher after initially falling, the main trading range or in 8650 - $9100 / ton.
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