SHANGHAI, Jun. 1 (SMM) -- The UK and American financial markets were closed on May 31st, and the US dollar index fluctuated narrowly around 5-day moving average at 86.7. China's stock market plunged before closing due to the release of news regarding levying property taxes, and market players concerned that the possible sluggish property market may exert negative impact on consumption of stainless steel and other metals. In this context, LME nickel prices opened at USD 21,000/mt, down USD 200/mt from a day earlier. Close attention should be paid to production limits and production cut from Chinese Stainless steel mills. It is expected that LME nickel prices will continued to move in the USD 20,400-22,000/mt range on June.
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