Shanghai nickel CIF (B/L) was quoted at premium of 120-150 dollars per ton, continue to be stable; Shanghai nickel bonded warehouse warrants permium was 70-90 dollars per ton, remain stability. The nickel imports inverted nearly 9500 rmbs today. The market rarely see B/L transaction, but warrants trading is better.
Shanghai zinc CIF (B/L) premium was quoted in 155-165 dollars per ton, slowly down; Shanghai zinc bonded warehouse warrants was quoted at a premium of 155-165 dollars, which also fell slowly. Today, Shanghai zinc main contract against the 3-month LME zinc was in a ratio of 7.20. The inverted spot zinc imports is about 1400 rmbs and the forward zinc imports inverted about 1300 rmbs. As the losses of imports are remaining big, the purchasing interest is not good and the turnover is quite small. Some traders said the zinc premium remained weak, lead to difficulties in transactions. Meanwhile, the stockiest are reluctant to sell because their purchasing cost is high. They preferred to sell after the prices rallied to highs. Some traders bullish the outlook. On the market, warrants supply is a lot but the B/L is rare to see, as the cost of B/L is higher, lead to that sellers are reluctant to sell.
Shanghai aluminum CIF (B/L) premium was 325-345 dollars per ton, gradually stabilized; Shanghai aluminum bonded warehouse warrants premium was 340-360 dollars per ton, slowly stabilized; Today, Shanghai aluminum the month contract against LME aluminum is a ratio of 7.00. The 3-month forward aluminum price is in a backwardation of 36 dollars. Today, the spot aluminum imports hang upside down about 3000 rmbs, and theforward aluminum imports inverted about 2800 rmbs. Aluminum imports losses is larger because the premium is high. The imported buying of the consumer enterprises were restricted, lead to a poor trading condition. The dealers are not eager to sell due to the problem of LME price structure. The quotation is high but the buyers do not accept it. Therefore, the market has price but no buyers. As the premium is high, the traders chose cautious stocking. Therefore, current market supply is less.
Shanghai copper CIF(B/L) premium was quoted at 95-115 dollars per ton, it rose; Shanghai copper bonded warehouse warrants premium was quoted at 95-120 dollars per ton, also climbed up. Shanghai copper the month contract against LME 3-month copper is a ratio of 7.2. The ratio that Shanghai copper main contract against LME 3-month copper is 7.0. LME 3-month copper price is in a contango of 15 dollars against spot price. Today, the spot copper imports losses is about 1400 rmbs and the 3-month forward copper imports inverted 1200 rmbs. The wet processed copper premium is about 95-105 dollars per ton. The ordinary fire processed copper premium is about 100-110 dollars per ton. Chile fire processed copper premium is 110-120 dollars per ton. Currently, many businesses remain on sidelines. The arrival B/L in April and May are not many and the quotations rose sharply. However, recent trading conditions can see that a lot of buyers are reluctant to accecpt the quotations. The inquiry are a lot, but the trading volume is small. According to he traders estimate, current bonded-warehouse copper stocks are about 700,000-750,000 tonnes.
Today, Shanghai spot nickel was quoted at 126900-127800 rmbs per ton, up 4300 rmbs per ton. Jinchuan nickel traded at 127800 rmbs per ton. Russian nickel traded at 126900 rmbs per ton. The analyst of Bank of America Merrill Lynch appointed in a report that the possibility of new sanctions against Russia boost nickel price to accelerate rise. Russian nickel output accounted for 12% of global output. LME nickel recorded a new high again. LME nickel hit a 14-month high on Tuesday, as the traders digested China’s data. The data suggested that Indonesia ban on ore export made the market supply tightened sharply. Ukraine crisis may disturb the supply of Russia which is the second biggest production country of nickel.Some analysts said that current upward leg will not loose energy in short term.LME nickel closed up 2.2% at 18325 dollars. On the domestic market, the spot nickel price following to rise sharply. But the turnover is small, as downstream buyers are cautious in purchasing and the traders chose to stand aside.
Copyright 2014 EN.SHMET.COM .All Right Reserved