Metals News
[Ni] SMM Morning Review - 2009/9/3 Nickel Market
smm insight
Dec 7,2009

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.


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