[Ni] SMM Morning Review - 2009/9/3 Nickel Market-Shanghai Metals Market

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[Ni] SMM Morning Review - 2009/9/3 Nickel Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, Sept. 3 (SMM) -- The US ADP Employer Services released a report on Wednesday that the number of employment in private sector fell by 298,000 during August, while this number was revised to a decline of 360,000. The US Commerce Department announced last night that the factory orders in July increased by 1.3%, with market forecast of a 2.2% growth. The positive economic data in the US helped support metal prices, and LME nickel prices closed at USD 17,911/mt, down 0.22%, and LME nickel inventories declined by 558mt to 115,710mt. At present, LME nickel prices showed a sign of stabilization and are expected to move around USD 18,000/mt in the short term.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040

[Ni] SMM Morning Review - 2009/9/3 Nickel Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, Sept. 3 (SMM) -- The US ADP Employer Services released a report on Wednesday that the number of employment in private sector fell by 298,000 during August, while this number was revised to a decline of 360,000. The US Commerce Department announced last night that the factory orders in July increased by 1.3%, with market forecast of a 2.2% growth. The positive economic data in the US helped support metal prices, and LME nickel prices closed at USD 17,911/mt, down 0.22%, and LME nickel inventories declined by 558mt to 115,710mt. At present, LME nickel prices showed a sign of stabilization and are expected to move around USD 18,000/mt in the short term.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040