Metals News
[Ni] CBI Morning Review - 2009/1/13 Nickel Market
smm insight
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Jan. 13 (CBI China) – Yesterday, affected by the stronger U.S. dollar and demand concerns, the basic metals have fallen sharply, and LME nickel experienced the largest decrease by 11%, LME copper also dropped by 5%. From the nickel trading yesterday, the impact of index fund buying has faded, the previous long position built by USD 11,000 escaped, leading to sharp decline in prices. The metals price is difficult to recover in the short term. The prices are expected to decline further to USD 10,000/mt tonight.


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