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LME nickel prices overnight rallied after a drop of several consecutive days, once touching USD 17,500/mt. European central bank decided to maintain current interest rate unchanged, triggering concerns over eurozone outlook. As a result, LME nickel prices fell to close at USD 17,392/mt, up USD 45/mt.
European central bank announced it will maintain indicator interest rate, deposit interest rate and loan interest rate unchanged at 1.0%, 0.25% and 1.75%.
US will announce non-farm employment rate today, and the market will not fluctuate significantly. LME nickel prices should move between USD 17,100-17,800/mt; spot nickel prices should remain between RMB 128,500-132,000/mt.
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