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Home / Metal News / [Ni] SMM Morning Review - 2009/7/31 Nickel Market

[Ni] SMM Morning Review - 2009/7/31 Nickel Market

iconJul 31, 2009 00:00
Source:上海有色金属网

SHANGHAI, July 31 (SMM) -- Yesterday, metal prices end corrections with softened US dollar, and then moved upward. Nickel prices even created a new high over 10 months. Two nickel mines of Vale with total capacity of 160kt/yr have been stopped by strike, and the output of these two mines accounts for more than 12% of global total output. Besides, China's Central Bank guaranteed to maintain the previous loose credit policy, which helped boost market confidence. Nickel prices will move up again and will likely soar to USD 18,000/mt in the short term.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

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