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DJ MARKET TALK: Nickel Prices May Remain Under Pressure

DJ MARKET TALK: Nickel Prices May Remain Under Pressure

Global nickel production outside China should start to cut back supplies, ANZ says in a note; the house tips prices could remain under pressure unless China nickel pig iron producers start reducing output. It notes that low nickel prices could turn attractive with prices hovering at their lowest levels since 2009. “With nickel prices trading within the 60th percentile of the global cost curves some participants suggest the market could undergo short-covering rallies in the near-term,” the house says. LME 3-month nickel is at $13,356/ton, up $51 from its previous close.

For full article: http://www.metalprices.com/news/article/DN/20130707002132/dj-market-talk-nickel-prices-may-remain-under-pressure–anz



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