SHANGHAI, Mar. 5 (SMM) -- On March 4th, LME nickel prices closed at USD 22,375/mt, down USD 275/mt. LME nickel prices once fell sharply to around USD 22,000/mt after profit-taking.
Dow Jones industrial average index rose by 47.38 points to 10,444.14 points, up 0.46%, with an accumulative increase of 0.15% since 2010. The Nasdaq composite index rose by 11.63 points to 2,292.31 points, up 0.51%. The Standard & Poor's 500 index rose by 4.18 points to 1,122.97 points, up 0.37%. CRB index closed at 274.80 on March 4th, down 2.91 or 1.05%, with commodity futures prices mostly decline.
The US Department of Commerce announced that factory orders in January increased by 1.7% after seasonal adjustment, and market expected that factory orders in January will increase by 2% MoM. The National Association of Realtors announced that existing home sales index fell by 7.6% to 90.4, which is lower than economists' prediction of a 0.5% increase. Mixed economic data weighted on LME nickel prices.
It is expected that LME nickel prices will continue to fluctuate at high levels in the near term.
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