Nickel downstream PMI to weaken in Jan

SHANGHAI, Dec 29 (SMM)－ The nickel downstream purchasing managers’ index (PMI) stood at 46.81 points in December, according to SMM research. While this is below the 50-point mark that separates growth from contraction, it has improved from November. SMM research showed the electroplating industry performed better but the stainless steel and alloy industries were lackluster.

For January, SMM sees the initial reading for nickel downstream PMI at 43.13 points, with weaker stainless steel and alloy industries. However, the battery sector may see some recovery. 

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