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Home / Metal News / [Ni] CBI Morning Review - 2009/6/16 Nickel Market

[Ni] CBI Morning Review - 2009/6/16 Nickel Market

iconJun 16, 2009 00:00
Source:上海有色金属网

SHANGHAI, June 16 (CBI China) -- Metal prices plunged last night negatively affected by falling stock markets and stronger US dollar. Although this plunge was a correction of previous surge, the real reason is the weak domestic and global demand. China’s large volumes of metal reserves have been completed during 1Q and 2Q, and domestic price began falling in view of greater inventory pressure. LME nickel price has outperformed domestic nickel price during this month. The price recovery will depend on the consumption of inventories in medium term, while nickel price will move in the USD 13,500-15,000/mt range in the short term.

 

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