SHFE Nickel to Move at Lows (2017-3-3)

SHANGHAI, Mar. 3 (SMM) – Expectation over US’s interest rate hike in March sent US dollar index up to 102. Crude oil and gold dropped sharply, waning base metals. Attention should be on US Federal Reserve Chairwoman Yellen’s speech on US’s economic prospect. SHFE 1705 nickel will move at lows and will trade at RMB 89,000-90,500/mt on Friday.

In China’s domestic market, spot nickel should trade at RMB 88,000-89,100/mt on Friday.