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[Ni] CBI Morning Review - 2009/5/11 Nickel Market
SHANGHAI, May 11 (CBI China) -- Last Friday, the US announced that the unemployment rate in April was 8.9%, but the unemployment growth slowed, indicating the economy has been in a recovery trend. In the mean time, the metal prices slipped after surge due to profit-takings. In the short term, the recent increases in copper and nickel prices will likely meet corrections due to ample supply in domestic spot market, but the macro economy recovery and the ample capital liquidity will help drive up the metal prices in the medium term. Nickel price will likely fluctuate in the USD 12,800-13,100/mt range today.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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