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Print[Ferro-Alloys.com]On Oct.14th, LME nickel opening price was USD$13831/mt, which ran between USD$13815/mt and USD$14095/mt, closing at USD$14020/mt, with the increasing rate of USD$113/mt. the nickel stock decreased 684tons to 228186tons.
Yesterday the economic data of China and Europe was well, which supported the nickel price. Specifically, the Industrial electricity consumption of China in Sep. increased 8.1% Y-O-Y. Even though the PPI index decreased by 1.3%, the decreasing rate narrowed, indicating that the industry demand was improving. Besides, the European industrial output in Aug. increased by 1.0%, higher than the expectation.
Adding to the improvement of the U.S. debt problem, the LME nickel price increased. Yesterday both the President Obama and the Senate showed the optimistic message to the market. As the deadline of the government closing was arriving, the market was cautious, but they still kept the optimistic attitude for the solution of the problem.
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