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[Ni] CBI Morning Review - 2009/7/3 Nickel Market
SHANGHAI, July 3 (CBI China) -- The number of non-farm employment released last night plunged unexpectedly in the US, generating market concerns with regard to economic recovery. In this context, the US stock slumped, and copper price fell significantly as well. However, nickel price still showed strong performance, the only one variety experiencing growth among all base metals, due mainly to the market concerns over supply caused by the shutdown of BHP Australian Mine. The market will still be directed by economic news, as the fundamental news has been absorbed by the market. Nickel price will remain strong and move around USD 16,000/mt in the short term.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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