Nickel Price Forecast, Nov 10

SHANGHAI, Nov 10 (SMM) - China's CPI in October rebounded by nearly 2%, and PPI stayed high. Less deals have been made in China’s stainless steel market in the recent 2 weeks, and the price declines. Price of nickel pig iron is under pressure. LME nickel was affected by the low-price offers, and nickel futures' rebound is unlikely. Today's focus is on China's M2 money supply of October. The estimated price range of CU1801 is 98,500 – 100,000 yuan / ton, and spot price is 98,500-100,100 yuan / ton.

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