SHANGHAI, Dec. 11 (SMM) – The market expects China’s yuan to depreciate further. LME nickel will fall further today.
See forecast for other base metals, please click: Shanghai Base Metal Prices to Diverge, with Lead Prices Stronger, SMM Says
SHFE 1601 nickel contract prices will move between RMB 65,000-68,000/mt today. Investors will take a wait-and-see attitude ahead of the weekend. Spot nickel prices in Shanghai should drop to RMB 65,800-67,800/mt.