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[Ni] CBI Morning Review - 2009/5/8 Nickel Market
SHANGHAI, May 8 (CBI China) -- The overall global economic environment experienced improvements since May, and the global stock markets and various economic data indicate the economy has recovered; the crude oil performed strong, posting positive impact on the overall commodity market. In this context, base metal prices have entered upward track, and the recent slip was only a kind of correction. Nickel price experienced marked rise due to the recovery of Chinese and European stainless steel markets. Any upward room for nickel price will be limited in the medium and long term due to great supply pressure. Nickel price is expected to rise further to test the previous high level of USD 13,500/mt in the short term.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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