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Nickel-SHMET Spot Market Briefing20140930

Date Sep 30 2014 17:22:05Source:SHMET
Sep.30,2014(SHMET)--

Today, Shanghai spot nickel was quoted at 114000-114400 rmbs per ton, unchanged from the previous session. Jinchuan nickel traded at 114400 rmbs per ton, Russian nickel traded at 114000 rmbs per ton. Euro zone economic sentiment deteriorated in September to levels last seen in late 2013 and inflation expectations among households and producers alike continued to fall. The investors worried about China's demand outlook, dragged down metal price. However, this week's China's official industry production data were expected to remain stable in September. Benefit from the good orders, the people got some consolation who have thought that Chinese economic growth would run out of steam. LME nickel ended lower 1.8% at 16675 dollars.It is the last trading day before the holiday. In domestic market, the spot nickel price stabilized with volatility and the turnover was quite poor. Unless the market showed a clear direction, traders remained on sidelines cautiously. Despite the nickel price already showed an investment value, but the buying in chance still need further evidence. Beyond the rising possibility, nickel price might experience a extended period of consolidations.

Edited by SHMET

Zinc-SHMET Spot Market Briefing20140930

Date Sep 30 2014 17:02:13Source:SHMET
Sep.30,2014(SHMET)--

Shanghai spot zinc 0# was quoted at 16940-17000 rmbs per ton, up 370 from yesterday, with a backwardation of 155-215 rmbs per ton. 1# zinc was quoted at 16880-16940 rmbs per ton, up 370 from yesterday, with trading in backwardation of 95-155 rmbs per ton. The Federal Reserve will likely start raising interest rates in mid-2015, but so slowly that rates will end the year at just 0.55 percent, according to a San Francisco Fed study of betting in futures markets released on Monday. LME three-month zinc closed at 2290 dollars, up 1.1. The bull narrative is well-publicised for zinc but it seems we will need to see fresh positive news to get the uptrend underway again. Today, the spot zinc price increased against the previous session. Recent smelters were selling as normal, part of the domestic spot zinc inventory were a lot, the stockiest selling wills were quite strong. The traders said that Shuangyan, imported zinc and ordinary 0# zinc traded a little more actively. Some investors were in a heavier cautious mood, the overall trading condition was modest.

Edited by SHMET

Lead-SHMET Spot Market Briefing20140930

Date Sep 30 2014 16:53:56Source:SHMET
Sep.30,2014(SHMET)--

Shanghai spot lead was quoted at 13700-13820 rmbs per ton, up 70 from yesterday, with trading in a narrowing contango of 175-55 rmbs per ton. Overnight LME lead fluctuated higher and ended at 2103 dollars per ton, up 33/1.59%. The whole volume in the day increased 960 to 3114 lots, the positions reduced 335 to 126800 lots. LME lead inventory closed at 225300 tons, down 125. U.S. consumer spending accelerated in August, the government said on Monday, a positive sign for an economy that appears to be firing on nearly all cylinders. Euro zone economic sentiment deteriorated in September to levels last seen in late 2013 and inflation expectations among households and producers alike continued to fall. The investors worried about China's demand outlook, dragged down metal price. However, this week's China's official industry production data were expected to remain stable in September. Benefit from the good orders, the people got some consolation who have thought that Chinese economic growth would run out of steam. In spot market, Chihong and Southern smelters both had sales. The main turnover came from smelters supply. The inventory in the traders' hands already fell to the lowest, part of the traders stocked on the lower price and the downstream buyers continued purchasing with a good buying appetite.

Edited by SHMET

Aluminum-SHMET Spot Market Briefing20140930

Date Sep 30 2014 16:53:32Source:SHMET
Sep.30,2014(SHMET)--

Shanghai spot aluminum was quoted at 14070-14130 rmbs per ton, up 180 from yesterday, with trading from 20c to 40b rmbs per ton. Wuxi quoted 14070-14130 rmbs per ton. Euro zone economic sentiment deteriorated in September to levels last seen in late 2013 and inflation expectations among households and producers alike continued to fall. On Monday, LME aluminum closed at 1965 dollars, up 15 from the previous session by 0.77%. Shanghai aluminum main contract 1412 ended at 14125 rmbs in the night session, up 160 from the previous settlement by 1.15%. US Monday's economic data were mixed, weighed down dollar and lead to aluminum and other metals rallied, but the overall downward trends did not change. ANZ bank expected that aluminum oversupply would be 600,000 tons this year and they forecasted a 1000,000 tons of excess in aluminum supply next year. The price of aluminum was under pressure to drop towards 1900 dollars per ton. SHFE aluminum fluctuated up this morning. Shanghai physicals mainly traded at 14100 rmbs per ton around, part of the downstream companies purchased on dips. The traders said that they only saw a few buyers in the market, most of them were on the sidelines.

Edited by SHMET
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