SHANGHAI, Nov. 24 (SMM) – US Federal Reserve will hike interest rate in December, according to its November’s meeting minute released on Thursday morning. US dollar index thus hit a new high while Chinese yuan refreshed record low in a row. However, base metals increased on Wednesday’s night trading. LME nickel will move at USD 11,500-11,700/mt on Thursday and SHFE 1701 nickel will range at RMB 94,000-96,500/mt.
In China’s domestic market, spot nickel will increase and trade at RMB 93,100-95,800/mt on Thursday.