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[Ni] SMM Morning Review - 2009/8/6 Nickel Market
SHANGHAI, Aug. 6 (SMM) -- The economic data released by the US last night were mixed, but the market expectations with regard to economic recovery stimulated the speculative activities. LME base metal prices continued to rise, and LME nickel prices reported the most active performance. LME nickel prices closed at USD 20,300/mt, up 4.64%. The positions increased further. Nickel prices will hold upward momentum positive affected by strike in nickel mines in Canada and domestic demand from stainless steel sector.
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