SHANGHAI, May 2 (SMM) – China’s official manufacturing PMI in April released by the NBS on Sunday was 51.2%, down 0.6 percentage point on the month. LME nickel will consolidate at highs today, and SHFE 1709 nickel should hover between RMB 78,800-79,500/mt, with spot prices between RMB 78,000-79,000/mt.

![Tug-of-war between longs and shorts, zinc prices mainly fluctuate within a range [SMM zinc morning comment]](https://imgqn.smm.cn/usercenter/cirme20251217171754.jpg)
![LME Structure Pulls Back in Stages, LME Zinc Center Edges Lower [SMM Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/EMwoI20251217171753.jpg)
