June 2009 | Stainless Steels
Nickel stocks picture continues to improve: Alloys Highlights
Recently a bullish trend started to be seen in LME stock data.
The downtrend in LME stocks continues, and now it has been backed up by a jump in cancelled warrants, which suggest we will see further outflows over the coming weeks. Total stocks have now dipped below 110,000 tonnes and cancelled warrants have risen to 7,614 tonnes, which is the highest level since January 2004.
April was a strong month for Chinese importsThe latest Chinese customs data, released last week, showed that China’s refined nickel imports in April rose 68% month-on-month or 95% year-on-year, to 21,031 tonnes....
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