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[Ni] CBI Morning Review - 2009/6/12 Nickel Market
SHANGHAI, June 12 (CBI China) -- Metal prices continued to rise significantly yesterday propelled by weaker US dollar and strong Chinese imports. The growth rate of nickel price reached 5.5%, and the positions remained high. As Chinese consumption entered adjustment period, future imports will fall slightly as well in the short term. However, the weakened US dollar will help support metal prices effectively. Besides, the European stainless steel industry has bottomed out recently, and has been building up stocks, so nickel price will unlikely fall in the short term. Nickel price will likely fluctuate widely after strong and rapid rise, and will continue to rise in the medium term.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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