Shanghai Spot Nickel to Fall (2016-5-23)

SHANGHAI, May 23 (SMM) – The G7 meeting failed to reach any agreement on exchange rate and fiscal stimulus. LME nickel is expected to remain weak today. September nickel on the SHFE will fall to RMB 67,000-68,500/mt. Spot nickel in Shanghai will drop to RMB 66,000-67,500/mt. Downstream buyers are advised to stay on the sidelines.