SMM Morning Review - 2012/6/6 Nickel Market

SHANGHAI, Jun. 6 (SMM) – LME nickel prices moved steadily upon reopening. The market dropped sharply due to lower-than-forecast US economic recovery, unclear global economic outlook and European debt crisis. On the other hand, the market will be dominated by speculations of US QE3 implementation. LME nickel prices should move between USD 15,800-16,400/mt today, and domestic spot nickel prices will rise in the afternoon, moving between RMB 118,500-123,000/mt.