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Home / Metal News / [Ni] SMM Morning Review - 2009/8/17 Nickel Market

[Ni] SMM Morning Review - 2009/8/17 Nickel Market

iconAug 17, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 17 (SMM) -- Data released last Friday show that the initial Reuters / University of Michigan consumer confidence index was 63.2 during August, the lowest level since March, lower than market forecast of 68.5, while the final data in July was 66.0. The US consumer confidence index in early August fell unexpectedly, improving market concerns with regard to economic recovery. LME base metal prices dropped last Friday due to profit-takings of investors, and LME nickel prices closed at USD 19,550/mt, down 5%, while the inventories increased slightly to 108,156mt. LME nickel prices will remain high in the short term, and will maintain the upward trend in the medium term.

 

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