Morning review:LME on the 40 days average price line, Shanghai nickle was above 76000 Yuan/ton

Led by the domestic black system, LME successfully broke the 40 - day average, and the latest technology shows stronger. Southeast Asia is about to enter the rainy season may affect the nickel production, that also spread good fundamentals, various technical indicators are still in the uplink, LME short-term will remain strong, look at the resistance near the average of $9280 on the 60-day average. The Shanghai nickle night dish successfully breached the 40 daily average resistance, standing above 76,000 yuan, the domestic stainless steel and the black series market strong positive nickel. The stainless steel market is expected to be stable in general, but the end of the month is expected to continue. And the price of nickel is strong or can make the value of the scrap stainless steel market value have to rise.

Keyword: stainless steel, stainless steel market, LME Nickel price, stainless steel scrap