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Nickel-SHMET Spot Market Briefing20140418

Date Apr 18 2014 16:39:39Source:SHMET
Apr.18,2014(SHMET)--

LME nickel closed with zero volume traded, and the buyer offered 17925 dollars in the late session. On Wednesday, it closed at 17650 dollars. Today, Shanghai spot nickel was quoted at 119500-120500 rmbs per ton, down 1700 rmbs per ton. Jinchuan nickel traded at 120500 rmbs per ton, Russian nickel traded at 119500 rmbs per ton. Nickel price continue to rally strongly, due to the concerns on global supply. On the domestic market, the spot nickel price was pressured and the turnover is flat. Barclays on Thursday raised the nickel price expectation this year and next year. This bank forecast that nickel supply and demand gap may start to attack the market this year and it will be more serious next year.

 

Edited by SHMET

Tin-SHMET Spot Market Briefing20140418

Date Apr 18 2014 16:39:03Source:SHMET
Apr.18,2014(SHMET)--

LME tin fell to 23405 dollars, lower than Wednesday’s 23450. Today, the spot tin was quoted a 139500-141500 rmbs per ton, unchanged from the previous trading day. Yunnan Xiye quoted 143000 for Yunxi, Yunnan Chengfeng offered 142000 for Yunheng. Jinhai, Yunshan quoted 141000 rmbs per ton. Jinlong, Nanshan, Weitai offered 139500 rmbs per ton. China published on the 16th, that Q1 GDP is better than expected, stalled the concerns on China economic growth slowing. On the domestic market, the spot tin price remains steady. Yesterday, the market trading condition is quite light as it is the last session of LME before Easter Day. London Metal Exchange market closed from today to the 22nd.

Edited by SHMET

Zinc-SHMET Spot Market Briefing20140418

Date Apr 18 2014 16:38:43Source:SHMET
Apr.18,2014(SHMET)--

LME 3-month zinc closed at 2060.50 dollars. Shanghai spot zinc 0# was quoted at 14970-15030 rmbs per ton, down 30, with a contango narrowing from 75 to 15 rmbs per ton; 1# was quoted at 14910-14970 rmbs per ton, down 30, with a contango narrowing from 135 to 75 rmbs per ton. Today, the spot zinc price lowered against futures and the contango narrowed. The traders said that spot imported zinc supply is not a lot. Shuangyan and Qinxin traded more active than others. The stockiest are selling actively. Shuangyan traded at 15010-15020 rmbs per ton around. The buyers replenish some stock before weekends. Some speculators remain cautious mood and the overall market trade condition is flat.

Edited by SHMET

Lead-SHMET Spot Market Briefing20140418

Date Apr 18 2014 16:38:24Source:SHMET
Apr.18,2014(SHMET)--

Shanghai spot lead was quoted at 13730-13850 rmbs per ton, up 20, with a contango narrowing from 65 to 55 rmbs per ton. Bolstered by China upbeat GDP, the worries about China economic growth eased. LME lead overnight rose and closed at 2142 dollars. London Metal Exchange market closed from Friday to next Monday, due to Easter Day. SHFE lead fluctuated and rose this morning. However, it lack of the energy to break above the volatile trading range in short term. On the spot market, the lead price currently edged up. The stockiest still hold firm on prices, but the downstream purchasing is short of strength. Therefore, the market condition seems to be flat.

Edited by SHMET

Aluminum-SHMET Spot Market Briefing20140418

Date Apr 18 2014 16:38:04Source:SHMET
Apr.18,2014(SHMET)--

Shanghai spot aluminum was quoted at 12940-13000 rmbs per ton, down 30, with a contango narrowing from 170 to 110 rmbs per ton. Wuxi quoted 12990-13000 rmbs per ton. Despite better than expected China economic growth data support base metal prices, but the trade are quite light as the holiday is coming. LME aluminum ended down and closed at 1865 dollars eventually, down 0.32% from yesterday. On the domestic market, the prices hovered around 13300, with a resistance at 13360 area. Expect it will break above the resistance. However, there are some people still remain cautious in short term. SHFE aluminum fell slightly, but recent futures and spot market shows a strong holding firm willingness. Therefore, current spot aluminum price have not been affected seriously. However, the users favor the cheap good when purchasing. This lead to that overall market volume rise is limited.

Edited by SHMET
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