Nickel trading with the positive node at 1083.2 with 0.58 percent gain on the back of strong demand at domestic spot markets amid firm trend overseas. Some pressure had been seen from the LME stock also which came up by 282mt, the total stock at LME is now at 130116mt. In today's trading session nickel has touched the low of 1080 after opening at 1080, and last traded at 1083.10.

The recent U. S. dollar weakness has supported the nickel price, and the company expects this trend to continue into 2011. Negative price pressure may, however, result from growing LME nickel stocks and sales of nickel out of China, indicating lagging demand.

US Sep nickel imports +0.2% from Aug, +3.2% from yr ago U. S. nickel imports rose 0.2% in September from last month, and was up 3.2% from the previous year, the Commerce Department reported. US Sep Nickel exports -9.5% from Aug, -67.8% from yr ago U. S. nickel exports fell 9.5% in September from the previous month, and was down 67.8% from the previous year, the Commerce Department reported. The outlook for nickel remained mixed in the short term and anticipated the metal remaining around its recent trading range of $20,000-25,000 a tonne in the near future.

LME base metals mostly ended lower Wednesday, after China's weak importing data dented market confidence and a stronger dollar weighed on the markets. China's central bank announced on Wednesday to raise bank deposit reserve requirement ratio for the fourth time in this year in order to ease inflation pressure caused by oversupply of money.

The US dollar index may strengthen further November 11th. China Oct crude steel output 50.3 mln T, up 1.5 pct - China produced 50.3 million tonnes of crude steel in October, up 1.5 percent from September when calculated on a daily basis, according to data issued by the National Bureau of Statistics on Thursday.

Daily output stood at 1.623 million tonnes in October, compared with 1.598 million tonnes in the previous month, Reuters calculations indicate. Chile Collahuasi seen suffering as strike drags on IQUIQUE - A disruption in output looked more and more likely at the world's No. 3 copper mine, Chile's Collahuasi, as a union workers' strike pushed on for a sixth day on Wednesday with no end in sight, industry experts said.

The union, whose 1,551 members downed tools on Friday over wages, says the mine operator is hiding losses and has vowed a long strike at the mine, which produces 535,000 tonnes a year, or 3.3 percent of the world's mined copper TECHNICAL OUTLOOK: For this week's session market is looking to take support at 1071, a break below could see a test of 1064 and where as resistance is now likely to be seen at 1092, a move above could see prices testing 1115.