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[Ni] CBI Morning Review - 2009/4/15 Nickel Market
SHANGHAI, Apr. 15 (CBI China) -- Yesterday, SHFE copper price fluctuated significantly and has ever hit the declining limit over the trading day, and the position also declined sharply for two straight days, indicating a large number of long investors began closing position after profit-taking. LME copper price rose slightly after the holiday, but then fell under the pressure of falling U.S. retail sales data; nickel price rose sharply last night supported by the production increases at domestic steel mills. In the short term, nickel price needs the adjustments after the previous significant increases. However, nickel price is unlikely to fall sharply in the medium term due to stronger expectation of inflation.
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