Nickel Settled Flat Amid Positive Factory Data In Top Metals Consumer China

Nickel trading range for the day is 1021.1-1039.1.

Nickel settled flat amid positive factory data in top metals consumer China, as investors looked to collect profits on the last day of the year.

Inventories of refined nickel in the Shanghai bonded areas edged higher this week, showed data, lifted by arrivals under long-term contracts.

China's monthly nickel ore imports from top miner Indonesia rose to a near 6-year high in November although its overall intake fell.

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Nickel Dec Daily Chart Has Formed "Descending Broadening Wedge" Pattern

Nickel Dec daily Chart has formed "Descending broadening wedge" pattern. The last few sessions been in sideways trend along with some corrections inside the channel. 

The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding at 974. The downside rally could be testing all the way through 960-948 level in the upcoming sessions. 

Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 1015 level. Key resistance holds at 1015.

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Nickel Trading Range For The Day Is 1072.7-1106.5

Nickel trading range for the day is 1072.7-1106.5.

Nickel prices ended with losses as markets awaited firmer signs of an end to the US-China trade conflict.

Pressure also seen as supply concerns eased while worries about demand intensified on falling stainless steel prices.

Indonesia has allowed nine companies to resume nickel ore exports after inspections into reports of ore export rules violations.

Warehouse stock for Nickel at LME was at 66174mt that is up by 1344mt.

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Nickel Dropped On Profit Booking After Prices Gained In Recent Session

Nickel trading range for the day is 1140.1-1320.7.

Nickel dropped on profit booking after prices gained in recent sessions as stainless steel producers bought supplies ahead of a Chinese holiday.

Top supplier Indonesia's plan to ban exports of nickel ore has been brought forward by two years to Jan. 1, 2020.

The premium of LME cash nickel over the three-month contract climbed to $150 a tonne, near the recent decade high of $163

Warehouse stock for Nickel at LME was at 156954mt that is up by 2388mt.

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Nickel Prices Gained Supported By Stable Demand From Stainless Steel

Nickel trading range for the day is 1206.1-1294.9.

Nickel prices gained supported by stable demand from stainless steel and supply shortages after Indonesia bans ore exports.

China’s nickel ore market will flip to a deficit in 2020 as major supplier Indonesia brought forward the ban on mineral exports to December 31, from the previously scheduled 2022.

Nickel ore inventories across all Chinese ports fell 280,000 wmt from a week ago to 13.25 million wmt as of Friday September 6

Warehouse stock for Nickel at LME was at 154956mt that is up by 1134mt.

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Nickel Prices Dropped As Investors Worried About Slowing Demand Growth

Nickel trading range for the day is 1193.4-1292.8.

Nickel prices dropped as investors worried about slowing demand growth at China.

The premium of LME nickel cash over the three-month contract fell further to a threeweek low of $15 a tonne, indicating a supply crunch has eased.

Manufacturing activities across nickel downstream sectors barely improved from a month ago in August, remaining in contraction for the fifth consecutive month

Warehouse stock for Nickel at LME was at 153822mt that is up by 300mt.

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Nickel Prices Gained As A Rally Fuelled By Supply Shortage Worries Lost Steam

Nickel trading range for the day is 1256.1-1304.7.

Nickel prices gained as a rally fuelled by supply shortage worries lost steam.

The premiums of LME cash nickel to the three-month contract eased to $38 a tonne, indicating nearby supply was not as tight as last week.

LME's on-warrant nickel stocks, or those available for delivery, dropped to 83,352 tonnes, their lowest since 2011.

Warehouse stock for Nickel at LME was at 153522mt that is up by 510mt.

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Nickel Settled Up 4.13% Amid Jumped, Bolstered By Renewed Concerns

Nickel trading range for the day is 1019.8-1091.2.

Nickel settled up 4.13% amid jumped, bolstered by renewed concerns over Indonesia’s export ban on nickel ore.

China said it would not accept “intimidation or blackmail” and pledged countermeasures.

US President Trump said he would slap an extra 10% tariff on roughly $300 billion worth of Chinese imports.

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Nickel Dropped As U.S. And Chinese Officials Are Due To Meet In Shanghai

Nickel trading range for the day is 982.9-1013.9.

Nickel dropped as U.S. and Chinese officials are due to meet in Shanghai for talks on a year-long trade dispute that has weighed on global economic growth.

Headline nickel stocks in LME-approved warehouses, at about 145,000 tonnes, are the lowest since 2013.

Data showed that China’s production of NPI expanded 3.44% from May to stand at 49,500 mt in Ni content in June.

Warehouse stock for Nickel at LME was at 143988mt that is unchange mt.

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Nickel Prices Fell On Profit Booking After Prices Gained Amid An Indonesian

Nickel trading range for the day is 965.2-1066.

Nickel prices fell on profit booking after prices gained amid an Indonesian mining ministry official reiterating that a ban on the export of raw ore exports.

Headline stocks in LME-registered warehouses, at 147,942 tonnes, have slid from more than 450,000 tonnes in 2016.

Cash nickel is still trading at a discount to the three-month contract on the LME, however, suggesting that while the market has tightened, metal is still available.

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Nickel Prices Settled Flat As The US Dollar Held On To Gains And Growth

Nickel trading range for the day is 886-910.

Nickel prices settled flat as the US dollar held on to gains and growth in oil prices slowed on expectations of lower demand.

Investors continued to reappraise the Federal Reserve interest rate outlook in the wake of last week's nonfarm payrolls report.

China’s output of stainless steel came in at 2.34 million mt in June, down 2.34% from May but up 23.73% from June 2018, showed survey.

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Nickel Prices Traded In Range Following News That The United States And China

Nickel trading range for the day is 870.6-889.4.

Nickel prices traded in range following news that the United States and China are set to hold trade talks next week.

Top U.S. and Chinese representatives are arranging to talk again next week, U.S. administration officials said.

Recent data from multiple sectors pointed to slowing economic growth in the United States, bolstering the prospect of rate cuts by the Federal Reserve.

Warehouse stock for Nickel at LME was at 157386mt that is down by -906mt.

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Nickel Gained As Support Seen After The Port Of Sanshan

Nickel trading range for the day is 896.8-920.4.

Nickel gained as support seen after the port of Sanshan in southern China's Guangdong province stopped accepting scrap metal shipments.

Weakness in the Chinese spot nickel markets is likely to ease a short position squeeze for the July contract on the Shanghai Futures Exchange.

China's net exports of stainless steel in May expanded 3% on the year, to stand at 248,700 mt, the latest customs data showed.

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Nickel Prices Rallied Amid Concerns About Delayed Shipments

Nickel trading range for the day is 851.8-892.8.

Nickel prices rallied amid concerns about delayed shipments of nickel ore on Indonesia floods.

Investors took heart from China's move to ease financing rules to boost local government spending on public works, and a possible cut in U.S. interest rates.

Nickel inventories across SHFE-approved warehouses expanded 4,935 mt on June 13, and this grew uncertainties around prices.

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Nickel Trading Range For The Day Is 844.9-867.5

Nickel trading range for the day is 844.9-867.5.

Nickel dropped as the prices has been losing ground on worries about demand in China.

Weak manufacturing data in China, US and the euro zone, as well as U.S. planned tariffs for goods from Mexico and an unresolved trade war have been clouding investors’ sentiment.

The Philippines' nickel ore production in the first quarter rose 3% from a year earlier to 2.97 million dry metric tonnes.

Warehouse stock for Nickel at LME was at 164052mt that is up by 5136mt.

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Nickel Prices Ended With Losses As Global Trade Tensions Raised Concerns

Nickel trading range for the day is 860.6-904.2.

Nickel prices ended with losses as global trade tensions raised concerns on weaker demand.

The Philippines' nickel ore production in the first quarter rose 3% from a year earlier to 2.97 million dry metric tonnes.

Nickel inventories in warehouses monitored by the Shanghai Futures Exchange rose 9.2% from last Friday to 9,938 tonnes, the exchange said.

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Nickel Prices Dropped As Markets Remain Jittery While US-China Trade

Nickel trading range for the day is 832.7-851.7.

Nickel prices dropped as markets remain jittery while US-China trade war rhetoric escalates

China’s factory activity is expected to have shrunk in May

China’s planning experts at The National Development and Reform Commission have moved a step closer to weaponising Rare Earths in the trade war with the US.

Warehouse stock for Nickel at LME was at 163104mt that is down by -2460mt.

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Nickel Trading Range For The Day Is 829.5-842.9

Nickel trading range for the day is 829.5-842.9.

Nickel prices dropped as continued pressure from US-China trade war depressed the market sentiment.

Global miner BHP plans to expand nickel output amid battery boom.

Japanese exports fell for the fifth month in April in a sign of the growing economic strain exerted by the Sino-U.S. trade war.

Warehouse stock for Nickel at LME was at 165132mt that is up by 600mt.

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Nickel Trading Range For The Day Is 829.5-847.9

Nickel trading range for the day is 829.5-847.9.

Nickel gained as investors looked to some signs of easing trade tensions between the United States and China, which have been threatening economic growth.

Nickel is expected to show a deficit of 84,000 tonnes in 2019, compared with a shortage of 146,000 tonnes last year, INSG said.

The discount on cash nickel compared with three-month metal fell to $40 from about $70 at the beginning of May, indicating tight supply.

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Nickel Dropped As Readings On China's Manufacturing Activity

Nickel trading range for the day is 842.3-858.7.

Nickel dropped as readings on China's manufacturing activity failed to meet expectations, underscoring weakness in the economy.

Data showed growth in China's factory activity unexpectedly slowed in April, suggesting the economy is still struggling to regain traction.

Eurozone consumer confidence in April remain constant at -7.9 as the eurozone economic confidence fell to its lowest since September 2016, at 104.

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