SHANGHAI, Nov. 22 (SMM) – US dollar index dropped on Tuesday, supported commodities. Attention should be on economic data on Tuesday, including Eurozone consumer confidence index in November and US existing home sales in October. LME nickel finds support at the 5-day moving average. SHFE 1701 nickel will move between RMB 91,400-94,000/mt on Tuesday with support at the 5-day moving average.
In China’s domestic market, spot nickel should trade at RMB 90,600-93,600/mt on Tuesday.