Nickel

摘要

Despite the general perception that nickel is heading for a recover}' this year, confidence among market participants remains fragile. Sentiment is thus fluctuating widely in accordance with the latest news to emerge in the market and price volatility has increased. Most of the recent developments that influence prices involve the global economic environment, as opposed to events specific to nickel. Monetary tightening in China, renewed dollar strength combined with mounting fiscal worries in the eurozone were the dominant elements behind nickel's drop of over 1,000 dollars/t to 17,036 dollars/t on February 8th. But equally LME cash nickel has since rebounded to close to 18,000 dollars/t, driven by a spell of short covering and bargain hunting by traders as well as the return of a slightly weaker dollar.