SunSirs: The Morning Post of Nickel on November 14th
November 14 2024 10:24:02 SunSirs (John)
Due to the continuous rise of the US dollar and the impact of hitting a 7-month high, the vast majority of varieties in the London metal market continued to decline overnight, and nickel prices continued to fall. The three-month nickel futures in London closed at 15,745 US dollars per ton, with a intraday decline of around 0.9%.
Since last week's US presidential election, base metals have accumulated a significant decline as the new president's trade and tariff policies may lead to a slowdown in demand from the world's top metal consuming country, while also boosting the strength of the US dollar. The latest data shows that the US Consumer Price Index rose in October, in line with market expectations.
Domestically, Shanghai nickel futures continued to decline weakly in the evening session, with support from the line of 125,000 RMB/ton below. The final closing price was 125,160 RMB/ton, with a decrease of 990 RMB/ton or 0.78%.
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