Comments

Nickel Import Market Briefing 20150331

Date Mar 31 2015 15:18:11Source:SHMET
Mar.31,2015(SHMET)--

Shanghai cathode nickel CIF (B/L) were at 120-150 dollars per ton premium, while the warrant premium were at 100-130 dollars per ton. Import of cathode nickel profited about 2700 rmbs today. The import ratio of nickel were good, some downstream buyers had strong wills to import and then the premium of nickel held well. Today's market reacted intensely, the cathode nickel showed a fast-speed sales. Meanwhile the buyers had strong wills to purchase. We could almost say the buyers were scrambling for goods. The premium of nickel also surged up.

Edited by SHMET

Zinc Import Market Briefing 20150331

Date Mar 31 2015 15:17:55Source:SHMET
Mar.31,2015(SHMET)--

Shanghai zinc CIF (B/L) premium was quoted in 105-125 dollars per ton; Shanghai zinc bonded warehouse warrants was quoted at a premium of 100-125 dollars, the quotations stabilised. Today, SHFE main contract against LME zinc were at a ratio of 7.62, LME zinc cash-3ms price were in 10 dollars contango. The imports of spot zinc lost about 350 rmbs per ton today, while the loss of forward zinc imports were about 450 rmbs per ton. Recently, the ratio of import zinc turned to bad, downstream import of zinc began reducing. However, the signs of 2015 annual contract were less, lead to that shipment to China were less especially B/L supply tensed. As there were still some demand in the market, the price of zinc ingot continued remaining stable. While the supply of warrant looked a little easing but the decline in warrant price were small due to the support from B/L price. Zinc premium basically steadied at 110-130 dollars.

Edited by SHMET

Aluminum Import Market Briefing 20150331

Date Mar 31 2015 15:17:40Source:SHMET
Mar.31,2015(SHMET)--

Shanghai aluminum CIF (B/L) premium was 330-350 dollars per ton; Shanghai aluminum bonded warehouse warrants premium was 320-340 dollars per ton, the premium slightly down. SHFE the month contract against 3m LME aluminum were at 7.40, LME aluminum cash price against 3m aluminum were in 6 dollars contango. Today, the physical aluminum ingot imported price hung upside down about 2200 rmbs, the forward aluminum imports lost about 2300 rmbs. Recently the aluminum market were quiet as always, domestic liquidity of in-dollar aluminum were quite bad and then premium of aluminum also slipped for consecutive days. According to recent quotations from traders, some premium reached 330-340 dollars while Shanghai bonded warehouse warrants were at 330 dollars, but there were still no buyers expressing interest.

 

Edited by SHMET

Copper Import Market Briefing 20150331

Date Mar 31 2015 15:17:25Source:SHMET
Mar.31,2015(SHMET)--

Shanghai electrolytic copper CIF(B/L) premium was quoted at 70-85 dollars per ton. Shanghai electrolytic copper bonded warehouse warrants premium was quoted at 75-85 dollars per ton, continued falling slowly. Shanghai spot copper against LME 3m copper were at 7.15, SHFE 3m copper against LME copper were at 7.18, LME cash-3m were at 24 dollars backwardation. Today, the physical copper imported price inverted about 1400 rmbs per ton, forward copper price hung upside down about 1600 rmbs per ton. Recently the market still remain quiet, as the downstream had difficulties in getting L/C and the cost for it were high as well, adding the import loss were comparatively big, lead to a near-zero buying. The liquidity of copper in the trading market were bad, the traders were under selling pressure but they had less wills to lower price for sales. Therefore, the quotations held steadily at current area. However, the actual traded price were lower than the quotations.

Edited by SHMET

Nickel-SHMET Spot Market Briefing20150331

Date Mar 31 2015 14:57:02Source:SHMET
Mar.31,2015(SHMET)--

Nickel prices hit 20-month lows on Monday as a perfect storm of strengthening dollar, another hefty warehouse stock increase of 1668 mt and a wave of technical long liquidation pressured the market. LME nickel closed at 12880 dollars, down 3.1% continued last week's 2.9% sharp fall. Domestic market were mixed today, SHFE nickel 1507 contract fell sharply this morning, with the lowest at 96820 rmbs per ton, the price picked up in afternoon to end at 98430 rmbs per ton. Shanghai spot nickel were at 97100-98100 rmbs per ton, with a back of 2150-3150 rmbs per ton, down 2900 rmbs. Jinchuan nickel traded at 97100 rmbs per ton, Russian nickel traded at 98100 rmbs per ton. In domestic physical market, the spot nickel price dropped seriously, the supply tightened. Jinchuan group not yet lowered the factory-gate price. The backwardation of Jinchuan nickel continued rising, downstream dip buying activity were good and the buying interest were high.

 

 

 

Edited by SHMET
Page1of1672