June 2009 | Base Metals
The fundamental backdrop is showing some improvement: Nickel - Market Analysis
Nickel is looking prone to a downward price correction in the short term.
Having touched $14,000/tonne for the first time this year only two weeks ago, nickel strong progress has continued with prices moving up above $15,000/tonne last week. Official three-month nickel topped out at $15,650/tonne on Thursday, helping the weekly average to a gain of more than 5%. Seeing the next landmark at $16,000/tonne would not be out of the question this week given the general improvement in sentiment, but, based on recent trends, the deciding factor is likely to be...
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