Nickel trading range for the day is 584-617.2. Nickel prices gained tracking rise in LME nickel closed up 2 percent at $9,360 as dollar weakness cushioned prices. Global nickel market was in a surplus of 3,300 tons during the first three months of 2017, according to the World Bureau of Metal Statistics. Nickel ore inventories at seven major Chinese ports grew in the week ending May 12, data showed.
Copper trading range for the day is 362.3-373.9. Copper rose and ended the week with a gain of more than 2 percent thanks to dollar weakness and receding worries over Chinas economy. Chinas economy will likely expand around 6.8 percent in the second quarter of 2017, the State Information Center said. Copper stocks in warehouses monitored by the Shanghai Futures Exchange rose 0.7 percent from last Friday to 196,358 tons.
Get Free Stock Market Tips and more click here to SUBSCRIBE OFFERS << http://www.ripplesadvisory.com >>
No comments:
Post a Comment