SHANGHAI, Feb. 7 (SMM) – European Central Bank is expected to expand quantitative easing (QE). China’s Caixin composite PMI dropped in January, a sign of improving economy. People’s Bank of China keeps tightening liquidity. LME nickel will test support at the 40-day moving average on Tuesday and SHFE 1705 nickel is expected to move at RMB 85,500-87,400/mt.

In China’s domestic market, spot nickel should trade at RMB 84,800-86,500/mt on Tuesday.