SHANGHAI, Dec. 29 (SMM) – The market will lack solid macroeconomic news today. Falling Shanghai Composite Index will drag down base metals prices. When combined with yuan’s devaluation expectations, LME nickel should fall.
See forecast for other base metals, please click:Strong Dollar to Pressure the Light Trading Market, SMM Says
SHFE 1605 nickel prices are expected to inch down to RMB 67,500-68,800/mt today. Downstream buyers will purchase at lows, and Shanghai spot nickel should fall to RMB 66,000-68,500/mt.