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Nickel-SHMET Spot Market Briefing20150227

Date Feb 27 2015 15:29:04Source:SHMET
Feb.27,2015(SHMET)--

LME nickel closed at 14380 dollars. Positive data on durable goods in the US might have given metals a boost despite an across-the-board gain for the USD. Shanghai spot nickel were at 105300-105700 rmbs per ton, down 200 from yesterday. Jinchuan nickel traded at 105700 rmbs per ton, Russian nickel traded at 105300 rmbs per ton. In domestic physical market, the nickel price relatively held well with some volume were from traders' hedging. cash-Wuxi 1504 contract were in a high backwardation as Jinchuan sales reduced once again. Meanwhile, some traders not yet return to the market, lead to that supply were tight.

 

 

Edited by SHMET

Tin-SHMET Spot Market Briefing20150227

Date Feb 27 2015 15:17:29Source:SHMET
Feb.27,2015(SHMET)--

Base metal prices led by Copper all enjoyed a delayed rally together with all major equity market displaying a long waited technical rebound. Price was then pulled back by weaker Euro that reached the lowest. LME tin slightly down at 18100 dollars. Shanghai spot tin were at 124500-127500 rmbs per ton, unchanged from yesterday. Yunnan Xiye quoted 134500 rmbs per ton for Yunxi tin, Yunnan Chengfeng quoted 128000 rmbs per ton for Yunheng tin. Yunxiang and Yunxiang were at 126000 rmbs per ton, Nanshan and Weitai were at 124500 rmbs per ton. In domestic market, the spot tin price stabilised, there were still some traders out of the market though the holiday had end. The trading sentiment told us that supply were a little tight, traders had stronger wills to buy in. However, overall volume were thin.

Edited by SHMET

Lead-SHMET Spot Market Briefing20150227

Date Feb 27 2015 15:01:30Source:SHMET
Feb.27,2015(SHMET)--

Shanghai spot lead were at 12370-12490 rmbs per ton, down 40 with a back of 100-220 rmbs per ton. Overnight LME lead rose 0.6% to end at 1760 dollars as we saw increased demand with the Chinese being back from their Lunar Holiday's, though this was not to last as positive data from the U.S. showing better than expected inflation and durable-goods orders helped to strengthen the dollar and in turn push prices lower. SHFE lead trends showed a weak technical indicators this morning. In the physical market of Shanghai, we saw more traders entering the market and some battery factories purchasing some. Moreover, some traders also had wills to take advantage of the lowest to replenish some stock. Therefore, the volume were slightly better than yesterday's.

Edited by SHMET

Aluminum-SHMET Spot Market Briefing20150227

Date Feb 27 2015 14:55:47Source:SHMET
Feb.27,2015(SHMET)--

Shanghai spot aluminum were at 12780-12840 rmbs per ton, down 20 with a contango of 120-60 rmbs per ton. The quotation in Wuxi were at 12800 rmbs per ton. Recent comments from Federal Reserve Chair Janet Yellen pushed back expectations for the first U.S. rate hike in nearly a decade to later in the year. Short coverings brought a clear rise in aluminum. However, stronger than expected durable goods orders in January helped the US dollar, which offset some gain in the price of aluminum. LME copper closed at 1805 dollars, up 0.6%. SHFE aluminum slightly fell this morning. In domestic physical market, we saw a higher volume than before but the trading conditions were still restrained by the poor consumption from downstream and persistently high inventory. Overall trading sentiment were still light with major volume were just between traders. In addition, the market trends after New Year holiday appear changes, some participants remained cautious now, lead to that trading sentiment were less active. Most quotations this morning were at 12790-12810 rmbs per ton. 

Edited by SHMET
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