SMM Morning Review - 2012/6/6 Nickel Market-Shanghai Metals Market

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SMM Morning Review - 2012/6/6 Nickel Market

SMM Insight 10:24:03AM Jun 06, 2012 Source:SMM

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.
 

Key Words:  LME nickel prices 

Price

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1# Silver ingots(99.99%)
Oct.11
4279.0
-75.0
(-1.72%)
2# Silver ingots(99.95%)
Oct.11
4264.0
-75.0
(-1.73%)
3# Silver ingots(99.90%)
Oct.11
4249.0
-75.0
(-1.73%)
Gold(99.99%)
Oct.11
343.2
-3.7
(-1.07%)
Gold(99.95%)
Oct.11
343.1
-3.5
(-1.02%)

SMM Morning Review - 2012/6/6 Nickel Market

SMM Insight 10:24:03AM Jun 06, 2012 Source:SMM

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.
 

Key Words:  LME nickel prices