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Home / Metal News / [Ni] SMM Morning Review - 2009/8/18 Nickel Market

[Ni] SMM Morning Review - 2009/8/18 Nickel Market

iconAug 18, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 18 (SMM) -- Market players were concern about economic recovery due to weak US consumer confidence index. Bulk commodities and global stock markets dropped in order to avoid high-risk assets. Meanwhile, the US dollar became popular as the currency for risk avoidance, and the US dollar index increased to 79. Overnight nickel prices dipped to 20-day average line negatively affected by strengthened US dollar and dropping US stocks, but regained most losses at closing given speculative activities. LME nickel prices closed at USD 19,398/mt, down USD 150/mt, and positions increased further. LME nickel prices are expected to remain high in the short term, with limited downward room.

 

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

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