LME nickel near-term price outlook uncertain following "turbulent" trade last week, expects prices to decline futher by end 2007 but upside risk remain due to tight market conditions, says Commonwealth Bank of Australia; threat of sunstitution also a factor dragging down prices. Downward trend will depend on trends in supply pipeline, trends in stainless steel demand; news flow from stainess steel sector outlines drive to low-nickel content stainless steels. LME 2-month nickel last trades at $46,700/ton, up $400 vs Friday PM kerb.
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