Nickel Leads Industrial Metals Higher on Japan Stimulus
Nickel led most industrial metals higher after the Bank of Japan unexpectedly increased monetary stimulus and before an official gauge of Chinese manufacturing.
The BOJ said it will increase holdings of government bonds by 80 trillion yen ($722 billion). A manufacturing purchasing managers’ index reading for October in China, the biggest metals user, will be 51.2 compared with 51.1 in September, according to a Bloomberg News survey before the data tomorrow. A number above 50 signals expansion.