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London Stock Exchange Nickel Rebound

Nickel Market Trend & Analysis
Till 16:35 GMT, the electronic plate Nickel was quoted at U.S.Dollar 18050/ton at London Stock Exchange, USD350/ton higher than that of last trading day, up about 1.98%.
Homebuilders confidence index of the United States in September continued the upward trend, hitting a new high since June 2006. That proved the U.S housing markets is developing in a good direction. The ice is going to melt. The German ZEW economic sentiment index of September had some increase, which is first during these five months. Besides, the situation is slightly better than the expected, indicating the recent debt crisis in Europe are going in a positive direction and easing the fears of the investors in the German economy could be facing deceleration. Under boosting of these goods news, Asia Nickel market in the London Stock Exchange stopped dropping and rebounded. The market will focus on new house sales and building permits data released tonight by the United States.
According to the statics of the Yangtze River Nonferrous Metals: today the Yangtze market spot, 1#Nickel price was at 125500-127000 yuan/ton, flat with the previous day; the Shanghai market was at 124900-126500 yuan/ton, down 150yuan/ton compared with the previous day; the Guangzhou market spot was at 126500-126500 yuan/ton, down 1000 yuan/ton; the Huatong market was at 125500-127000 yuan/ton, keeping flat;
Stockpiles: LME London Stock Exchange nickel inventories of 120,936 tonnes , an increase of 954 tonnes over the previous trading day .
The Latest Markets:
News of Sep 19 in Seoul, the South Korean government procurement agencies PPS (Public Procurement Service) announced on Wednesday that they had bid 500 tons Nickel delivered on 31th Oct and 400 tons Tin delivered on 12th Nov.
Sep 19 News from Commerce Department: Ambatovy Nickel-Cobalt project is the largest investment in Madagascar, total amount estimated reaching $5.5 billion. After the pre-construction, the project will be put into production in 2012. However, the Ma transition regime refuse to issue the mining license card, with excuse that they need 4-5 months to conduct in depth study on economic, social and environmental impact of the project.
Indonesian Ministry of Trade decreased Nickel ore export base price: Ni < 1.5 , the base price was $ 13.14 / wet ton ; 1.5 ≤ Ni < 1.8, base price was 21.7 / wet ton ; 1.8 ≤ Ni < base price of $ 28.31 / wet ton ; Ni ≥ 2, the base price was $ 35.95 / wet ton .

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