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Home / Metal News / [Ni] SMM Morning Review - 2009/9/11 Nickel Market

[Ni] SMM Morning Review - 2009/9/11 Nickel Market

iconSep 11, 2009 00:00
Source:上海有色金属网

SHANGHAI, Sept. 11 (SMM) -- The US Labor Department released on Thursday that the number of claims for unemployment benefits during this week (September 5th) dropped to 550,000, while the market forecast was 560,000, increasing market hopes for economic recovery, further pushing up the US stocks, and dampening the US dollar. LME lead prices declined by more than 10%, as market players overestimated the impact from lead smelters closures in China after lead poisoning incidents. In the context, LME nickel prices have fallen below 60-day average line, and closed at USD 17,320/mt, down 3.38%, and are expected to continue to test 60-day average line in the short term.

 

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