SHANGHAI, Sep. 28 (SMM) – US stocks closed with gains yesterday. Saudi Arabia oil minister sees no chance that an agreement will be reached to freeze oil output, pushing down oil prices. But with support from news from the Philippines, nickel should remain high.
LME nickel will meet resistance from USD 11,030/mt today. January nickel on the SHFE will move between RMB 80,800-83,200/mt. Spot nickel in Shanghai will rise to RMB 80,500-82,300/mt.