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Home / Metal News / [Ni] CBI Morning Review - 2009/4/27 Nickel Market

[Ni] CBI Morning Review - 2009/4/27 Nickel Market

iconApr 27, 2009 00:00
Source:上海有色金属网

SHANGHAI, Apr. 27 (CBI China) -- Last Friday, metal prices rebounded after declined continuously positively affected by rising stock market and inventory declines. Nickel price received strong support around 20-day average line of USD 11,000/mt, but will continue to fluctuate in the short term. As profit margins for NPI producers still exist at the price of RMB 100,000/mt, and the closed factories will resume some capacity, nickel price will meet resistance at USD 13,000/mt in medium and long term. So nickel price will continue to move downwardly under the pressure of increasing domestic stainless steel inventory and consumption declines.

 

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