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SHFE Nickel to Hover at highs (2017-2-21)
Feb 21, 2017 09:31Source:SMM
Growth of LME nickel will slow down on Tuesday and SHFE 1705 nickel will hover at RMB 91,600-93,100/mt.
SHANGHAI, Feb. 21 (SMM) – Base metals increased across the board on Monday’s night trading. US dollar index advanced and offshore yuan depreciated on Tuesday morning. Growth of LME nickel will slow down on Tuesday and SHFE 1705 nickel will hover at RMB 91,600-93,100/mt.
In China’s domestic market, spot nickel should trade at RMB 90,000-91,500/mt on Tuesday. Market players will see a light data calendar on Tuesday and eyes should be on eurozone’s manufacturing PMI.
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