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[Ni] CBI Morning Review - 2009/7/1 Nickel Market
SHANGHAI, July 1 (CBI China) -- Yesterday, the US consumer confidence index was much lower than expected, driving up US dollar significantly and dragging down commodity markets. The domestic/LME nickel price spread has expanded to RMB 10,000/mt due to huge domestic inventories and no rapid increases in demand. Besides, the nickel imports will remain more than 20kt during June. Nickel price will no doubt move downward under pressure of huge inventories, but the domestic/LME nickel price spread will become narrower due to stronger domestic spot market.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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