LME Nickel Increase

November 19 closing price of $ 16,095 LME nickel, up $ 455, or 2.91%, turnover enlarged to 6460 hands, the highest level in nearly two months, and again today opened on a strong punch.
Recent favorable macro and industry face frequent, first economic policy, Japan has announced the postponement of consumption tax increases, the ECB said it would take more action to help Europe’s economic recovery, the Fed FOMC Meeting Minutes October and hinted that it might and eager to hike.
Second, the economic data front, Eurozone final concern beautiful usher economic data, euro zone’s third-quarter economic growth exceeded market expectations, GDP growth rate of 0.2% initial quarter, higher than expected 0.1 percent, Germany’s third-quarter GDP growth of 0.1% quarter rate, barely avoiding a recession. German ZEW index soared, November ZEW economic sentiment index recorded 11.5, much higher than the previous value of -3.6 and the expected value of 0.5.
Finally, industry news, news that the Philippines will soon laterite nickel ore exports dropped significantly, Zambales region as the main producing area of high nickel ore, by the relevant environmental remediation, present the relevant government departments are still not allowed to take the goods mine, Tawitawi area due has been executed, now also been suspended shipments, Su slightly higher areas of nickel ore resources that can seriously affect the rainy season. Aspects of the investment bank Citigroup, Standard Chartered, also began to sing the story of rain, Standard Chartered Bank, said the impact due to the rainy season, November significantly reduced Philippines laterite nickel ore exports, and to see the high nickel price $ 23,400 in 2015.

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