Sunday, 7 April 2013

Lackluster Manufacturing Sector And High Inventories Worry For Nickel

Lackluster manufacturing sector in China and high inventories is a worry for Nickel prices. Most of the base metals these days are losing strength due to heavy pile up of inventories. LME inventories have increased 19.56 percent to 166284 tonnes.
Meanwhile, China manufacturing sector might face crisis considering the tightening norms by Chinese government to curb the overheating real estate sector.
LME Nickel three month prices were at $ 16061 per tonne, up $ 61 per tonne. On MCX, Nickel April expiry futures were trading at Rs 883 per kg, up 0.59 percent. Nickel upper cap is at Rs 890 per kg.
Source  by Commodity Insights

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