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SMM Morning Review - 2011/12/28 Nickel Market
Dec 28,2011 09:14CST
smm insight
Source:SMM
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;

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