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[Ni] CBI Morning Review - 2009/4/2 Nickel Market
SHANGHAI, Apr. 2 (CBI China) -- Yesterday, the U.S. manufacturing index and pending home sales index were better than expected, which caused the metals prices to rebound. With the background of G20 summit, copper price remained in the high level. Nickel price closed above USD 10,000/mt, which was out of market players expectation, and mainly due to the support from 7.8% of nickel production cuts at Sumitomo Metal Mining Company. The metals fundamentals remained weak in the short term, and will remain on downward trend in the medium term. Nickel price is expected to fall slightly tonight after two-day rise.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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