SHANGHAI, Feb. 29 (SMM) –The People’s Bank of China unexpectedly lowered reserve requirement ratio to stabilize growth. The US dollar index rose significantly on upbeat economic indicators.
LME nickel is expected to fluctuate widely today. SHFE 1605 nickel should rise to RMB 66,500-67,500/mt. Downstream purchases should improve. Downstream buyers will purchase as needed. Spot nickel should stabilize at RMB 6,200-67,200/mt.