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Home / Metal News / [Ni] CBI Morning Review - 2009/5/15 Nickel Market

[Ni] CBI Morning Review - 2009/5/15 Nickel Market

iconMay 15, 2009 00:00
Source:上海有色金属网

SHANGHAI, May 15 (CBI China) -- Yesterday, commodity price declined sharply in early trading due to soft Asian and European stock markets. However, metal prices began rebounding significantly along with the rising stock markets in US time and soft US dollar. Technically, nickel price found support in 20-day average level of USD 12,000/mt, and will likely move upwardly to test USD 13,000/mt in the short term. The recent series of economic data and market views added to the belief that the global economy will end the recession before 3Q this year. Although it is still a long way for economic recovery, the improved economic conditions will likely push up the metal prices and exert strong supports.

 

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