SHANGHAI, October 27(SMM) –
Overnight, the most-traded SHFE nickel contract opened at 148980 yuan/mt, and closed at 146990 yuan/mt, down 910 yuan/mt. Trading volume fell by 6048 lots, and open interest decreased by 10227 lots. On the macro side, the dovish speeches of Federal Reserve officials have been frequent. The expectation for the Federal Reserve to raise interest rates has continued to cool down. Market expectations for the interest rate range to remain unchanged in November and December rose to 89.6% and 70.5%. Demand in spot market declined yesterday. Nickel price is expected to rebound slightly.
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