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SHFE nickel price down 2.6%, fundamentals remain solid

The most-traded January nickel contract on the Shanghai Futures Exchange (SHFE) fell for the second day, down another Yuan 2,710/tonne ($392/t) or 2.6% on day to close the daytime session at Yuan 102,370/t as of October 16, but market participants showed little concern, believing the metal’s fundamentals in the long run has remained solid.
Recent nickel price decline is just a short-time downward correction and the room for the SHFE nickel futures price is rather limited, and SHFE’s nickel price decline on Tuesday may have to do with the moderate $60/t day-on-day slip in the nickel cash settlement price on London Metal Exchange to

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