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

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

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

SHANGHAI, Sept. 9 (SMM) -- Last night, the US dollar index dropped significantly below the support level of 78, setting a new record low for 2009. As all countries made commitments that they will continue to implement economic stimulus measures before the economic recovery in G20 meeting during last weekend, and the loose monetary policy weighed on the US dollar. LME nickel prices closed at USD 17,981/mt, up 1.02%, due mainly to weakened US dollar. Recent constant increases in LME nickel inventories curbed any upward movement for nickel prices, so LME nickel prices will remain 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 - 2009/9/9 Nickel Market

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

SHANGHAI, Sept. 9 (SMM) -- Last night, the US dollar index dropped significantly below the support level of 78, setting a new record low for 2009. As all countries made commitments that they will continue to implement economic stimulus measures before the economic recovery in G20 meeting during last weekend, and the loose monetary policy weighed on the US dollar. LME nickel prices closed at USD 17,981/mt, up 1.02%, due mainly to weakened US dollar. Recent constant increases in LME nickel inventories curbed any upward movement for nickel prices, so LME nickel prices will remain 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