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Home / Metal News / [Ni] SMM Morning Review - 2009/8/28 Nickel Market

[Ni] SMM Morning Review - 2009/8/28 Nickel Market

iconAug 28, 2009 00:00
Source:上海有色金属网

SHANGHAI, Aug. 28 (SMM) -- The US Labor Department announced on Thursday that the number of initial application for unemployment benefits fell to 570,000, with estimated level of 565,000. In the mean time, The US Commerce Department announced that the annual rate of US GDP was revised to a 1.0% shrinkage on a quarterly basis, lower than economists forecast of a 1.5% shrinkage. LME nickel prices closed at USD 19,100/mt, up USD 50/mt, and LME nickel inventories increased by 1,836mt to 112,026mt. Continuous increases in nickel inventories recently will hamper the uptrend of nickel prices. Technically, LME nickel prices are expected to continue to fluctuate narrowly in the short term. 

 

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