Nickel trading range for the day is 667.9-699.5.Nickel prices dropped after trading fees were hiked in China to dampen speculation and steel prices slid with other metals.Metals prices probably needed to correct another 5-10 percent to where they were justified by supply/demand fundamentals.The People’s Bank of China (PBOC) increased capital injection to ease liquidity tightness recently, according to one trader from financial institution.
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