China Base Metal Output Data in January 2017


SHANGHAI, Feb. 23 (SMM) – US’s FOMC meeting minutes showed that if US’s labor market and inflation are flat at current level, or higher, Federal Reserve will raise rate soon. Decline of LME nickel will slow down on Thursday and SHFE 1705 nickel will test support at the 60-day moving average. SHFE 1705 nickel is expected to trade at RMB 89,000-90,500/mt.

In China’s domestic market, spot nickel should move at RMB 88,000-89,500 on Thursday.