June 2009 | Base Metals
Consolidation after recent gains: Nickel - Market Analysis
The fundamentals look steadier, but the improvements are small and the technicals are pointing lower.
Chinese refined nickel imports were up 127% year-on-year in May to 25,032 tonnes, taking the year-to-date total to 78,995 tonnes, a 37% increase. Exports were down 45% in May and 21% in the January-May period, at 411 tonnes and 2,019 tonnes respectively. While some Chinese stainless steel mills are known to have ramped production back up again recently (see last week’s...
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