SHFE Nickel to Stay Firm (2017-3-6)

SHANGHAI, Mar. 6 (SMM) – Although US Federal Reserve officials’ hawkish comment strengthened expectation of rate hike, US dollar index dropped technically. LME nickel will find support at the 10-day moving average on Monday and SHFE 1705 nickel will move at RMB 90,500-91,900/mt.

In China’s domestic market, spot nickel should trade at RMB 89,400-90,600/mt on Monday.