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[Ni] CBI Morning Review - 2009/7/10 Nickel Market
SHANGHAI, July 10 (CBI China) -- Last night, copper price increased significantly, positively affected by falling US dollar and rising buying sentiment, while nickel price fluctuated widely, indicating the intensified market views on nickel price. The global economy has recovered slowly, and the operating rates at stainless steel mills in Europe, US, Japan and South Korea climbed gradually. Furthermore, the price spread between domestic and LME nickel price narrowly continuously, so nickel imports will likely improve along with the consumption of domestic inventories. Besides, the cancelled warrants in LME inventories increased sharply recently, so nickel price will move upward to USD 15,500/mt in the short term.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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