SHANGHAI, Nov. 23 (SMM) – US existing home sales hit a nine and a half year high and markets expect likelihood of US interest rate hike in December to be 100%, supporting US dollar index. SHFE adjust deposit Tuesday night, cooling down commodities. However, optimistic outlook still dominates market. LME nickel is expected to fluctuate on Wednesday and SHFE 1701 nickel will move at RMB 91,600-94,000/mt.
In China’s domestic market, spot nickel should trade at RMB 91,000-93,400/mt on Wednesday.