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[Ni] CBI Morning Review - 2009/5/12 Nickel Market
SHANGHAI, May 12 (CBI China) -- Last night the global stock market fell, the US dollar became strong, and concerns of market players increased toward the approaching off-peak season for copper consumption, so LME copper continued to fluctuate. Nickel price showed a strong performance, only down USD 70/mt. In the short term, the recovery of stainless steel orders in Europe and the collective bargaining at Sudbury under Inco will continue to support nickel price. Copper price is expected to fluctuate around 20-day average line of USD 4,500/mt, while nickel price is expected to further test USD 13,500/mt this week.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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