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Nickel Import Market Briefing 20150130

Date Jan 30 2015 15:24:12Source:SHMET
Jan.30,2015(SHMET)--

Shanghai nickel cathode CIF (B/L) was quoted at premium of 130-150 dollars per ton, Shanghai electrolytic nickel bonded warehouse warrants premium was 90-120 dollars per ton. Nickel cathode import showed a loss of 2700 rmbs per ton today. Recent ratio for nickel import continued to be in high level, thus downstream purchasing demand increased accordingly and majority were through import. Quotations for nickel warrant and B/L rose obviously with the volume traded better than before. Moreover, the demand for nickel B/L were relatively big lead to a big increase in nickel import. Domestic market price showed that many Russian nickel flew into the domestic market due to the good import ratio, the tight supply pattern of Russian nickel eased. And the price gap between Russian nickel and Jinchuan nickel once again widened.

 

Edited by SHMET

Zinc Import Market Briefing 20150130

Date Jan 30 2015 15:23:49Source:SHMET
Jan.30,2015(SHMET)--

Shanghai zinc CIF (B/L) premium was quoted in 110-130 dollars per ton; Shanghai zinc bonded warehouse warrants was quoted at a premium of 105-125 dollars, the quotations declined slowly. Today, SHFE main contract against LME zinc were at a ratio of 7.79, LME zinc cash-3ms price were in 9 dollars contango. The imports losses of spot zinc were about 130 rmbs per ton today, while inversion for forward zinc imports were about 500 rmbs per ton. Towards month-end, the buyers' demand for L/C reduced, thus the demand for imported zinc also slipped. Current market were quite light, but the retreatment in price ratio were also a reason which lead to a light market trading. Meanwhile, the traded premium declined slowly.

Edited by SHMET

Aluminum Import Market Briefing 20150130

Date Jan 30 2015 15:23:24Source:SHMET
Jan.30,2015(SHMET)--

Shanghai aluminum CIF (B/L) premium was 380-400 dollars per ton; Shanghai aluminum bonded warehouse warrants premium was 360-380 dollars per ton, it seemed to stabilise. SHFE the month contract against 3m LME aluminum were at 6.97, LME aluminum cash price against 3m aluminum were in 11 dollars contango. Today, the physical aluminum ingot imported price hung upside down about 3500 rmbs, the forward aluminum imports inverted about 3600 rmbs. Aluminum premium continued staying in high level with a import losses of 3000-4000 rmbs per ton. Downstream consumers were unable to import continuously, domestic purchasing demand were restricted continuously. Moreover, the supply for Shanghai bonded aluminum warrant and CIF Shanghai were not many, thus sellers were reluctant to sell while buying appetite were less as well. Overall trading were light.

 

Edited by SHMET

Copper Import Market Briefing 20150130

Date Jan 30 2015 15:23:02Source:SHMET
Jan.30,2015(SHMET)--

Shanghai electrolytic copper CIF(B/L) premium was quoted at 80-90 dollars per ton. Shanghai electrolytic copper bonded warehouse warrants premium was quoted at 75-90 dollars per ton, the quotations stabilised. Shanghai spot copper against LME 3m copper were at 7.32, SHFE 3m copper against LME copper were at 7.25, LME cash-3m were at 38 dollars backwardation. Today, the physical copper imported price inverted about 700 rmbs per ton, forward copper price hung upside down about 1400 rmbs per ton. Recent warrant supply were not many, the sell offer of B/L were quite active, but towards the month-end, downstream demand for L/C were less. Therefore, the buying demand for copper also reduced, recent traded premium also appeared slow decline.

 

Edited by SHMET

Nickel-SHMET Spot Market Briefing20150130

Date Jan 30 2015 15:16:35Source:SHMET
Jan.30,2015(SHMET)--

LME nickel fell 0.9% and ended at 14900 dollars overnight. Investors will next be eyeing U.S. fourth-quarter gross domestic product data due out on Friday that may show a solid pace of economic expansion as the Fed had described in its policy statement on Wednesday. Shanghai spot nickel were quoted at 107700-108100 rmbs per ton, down 200 from yesterday. Jinchuan nickel traded at 108100 rmbs per ton, Russian nickel traded at 107700 rmbs per ton. In domestic physical market, the spot price trends of nickel remained stable. The traders had a stronger willingness to sell, but the downstream buying appetite weakened. It seemed difficult to trade at higher price as downstream were mainly on the sidelines. Overall trading volume were small today. The nickel ore inventory at port continued falling from previously. Short term supply/demand were not positive and macro factors had a bigger effect on short term market trends. However, the fundamental data of China' nickel looked comparatively good.

Edited by SHMET
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