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Home / Metal News / SMM Morning Review - 2011/12/28 Nickel Market

SMM Morning Review - 2011/12/28 Nickel Market

iconDec 28, 2011 09:14
Spot nickel prices will be guided by LME nickel prices movement, and may fluctuate in the RMB 128,200-130,300/mt range on Wednesday.

SHANGHAI, Dec. 28 (SMM) -- LME nickel prices met resistance at USD 19,000/mt. Economic data announced from the US were mixed, which will continue to weigh on LME nickel prices. SMM expects that LME nickel prices will meet resistance at USD 19,000/mt and will find support at USD 18,000/mt on Wednesday. In domestic nickel spot market, spot nickel prices will be guided by LME nickel prices movement, and may fluctuate in the RMB 128,200-130,300/mt range on Wednesday.
 

nickel; nickel price; LME nickel price; spot nickel price; European debt crisis; US dollar; euro; Dec. 28; in the Shanghai nickel spot market;
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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