SunSirs: The Morning Post of Nickel on November 15th
November 15 2024 13:57:36 SunSirs (John)
At present, metal prices are still under pressure from the strong US dollar. As the US dollar index rises to a one-year high, metals denominated in US dollars become more expensive for holders of other currencies; Although some metal varieties have attracted consumers to buy and overcome their weakness due to low prices, most varieties still fluctuate and decline. The three-month nickel futures in London closed at 15,645 US dollars per ton, with a intraday decline of around 0.5%.
Investors are concerned that the US President's trade and tariff policies will push up US inflation, and people increasingly expect the Federal Reserve to reduce the number of interest rate cuts next year, which also supports the rise of the US dollar.
Domestically, Shanghai nickel futures continued to decline weakly in the evening session, with support approaching 123,000 RMB/ton below. The final offer was 123,420 RMB/ton, with a decrease of 1,560 RMB/ton or 1.25%.
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