Metals News
[Ni] SMM Morning Review - 2009/9/9 Nickel Market
smm insight
01:16PM
Dec 7,2009
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.

 

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