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Home / Metal News / [Ni] SMM Morning Review - 2009/8/5 Nickel Market

[Ni] SMM Morning Review - 2009/8/5 Nickel Market

iconAug 5, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 5 (SMM) -- The National Association of Realtors (NAR) reported on Tuesday that the US pending home sales index in June increased by 3.6% to 94.6, while market players predict it would increase by 0.6%. The positive home sales boosted the market optimistic sentiment towards economy and demand, and overnight LME nickel prices closed at USD 19,400/mt, up 2.35%. At present, the strike in both Voisey Bay mine and the Sudbury plant (including mining, refining and smelting) of Vale in Canada continued. Meanwhile, China’s Jinchuan Group raised nickel prices, also implying the recovery of market confidence. Therefore, the positive macro data and market fundamentals will drive up nickel prices further.

 

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

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