The economic data was fall back and it will be dominated in the short term

The rout of global stock market has hit the metal market's popularity. Last night, the price of the LME nickel has fell sharply and it was quoted at $11,800, which has up for $705 but down 5.64 %. Meanwhile, the Shanghai nickel was broke down and the latest closing price of the main month 1805 contract was quoted at 95,550 yuan, which has fell by 5150 yuan as a whole.

Today, the price of Shanghai nickel is trading at a low price and the opening price of the main month 1805 contract is 99,600 yuan. At 09:20 , the shanghai-nickel’s 1709 contract was at 95270 yuan. China's economic data which was weaker than expected has set off the worries about industrial metals demand and it has  leading to a pullback in basic metal prices. While the nickel prices is led the decline and the decline in spot nickel prices will accelerate today.