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Nickel Import Market Briefing 20141222

Date Dec 22 2014 15:28:05Source:SHMET
Dec.22,2014(SHMET)--

Shanghai nickel cathode CIF (B/L) was quoted at premium of 70-90 dollars per ton, Shanghai electrolytic nickel bonded warehouse warrants premium was 0-30 dollars per ton. The nickel imports inverted about 5400 rmbs today. Current downstream purchasing demand was quite poor, while most sellers held nickel bonded-warehouse warrant or oversea warrant. Majority had been pledged to the bank for financing or had been used for L/C buying-back discounting. Regarding the B/L, most offers were overseas, mainly were used for domestic customer L/C discounting before arriving the port. Towards the year-end, domestic companies demand for financing were more and more light.

Edited by SHMET

Zinc Import Market Briefing 20141222

Date Dec 22 2014 15:27:44Source:SHMET
Dec.22,2014(SHMET)--

Shanghai zinc CIF (B/L) premium was quoted in 100-110 dollars per ton; Shanghai zinc bonded warehouse warrants was quoted at a premium of 100-110 dollars, stabilised. Today, Shanghai zinc main contract against the 3-month LME zinc was in a ratio of 7.63 and LME spot zinc price against 3-month forward zinc is in 8 dollars contango. Today, the spot zinc imports inversions were about 300 rmbs and the forward zinc imports inverted about 800 rmbs. Recently, the inversion of imported zinc ingot were comparatively small, purchasing wills got stronger. The quotations bounced back slightly as the buyers favored the warrants rather than B/L, thus overall trading were still light. For 2015 annual contract, there were news that some Korean zinc smelters quoted 160 dollars per ton, but traders and downstream were only accept the price of 120-140 dollars per ton, the signing rate of annual contract were not high for the time being due to the further difference between them.

 

Edited by SHMET

Aluminum Import Market Briefing 20141222

Date Dec 22 2014 15:27:31Source:SHMET
Dec.22,2014(SHMET)--

Shanghai aluminum CIF (B/L) premium was 365-385 dollars per ton; Shanghai aluminum bonded warehouse warrants premium was 350-370 dollars per ton. Shanghai aluminum the month contract against LME aluminum is a ratio of 6.95 today. LME spot aluminum price against the 3-month forward aluminum is in 26 dollars contango. Today, the spot aluminum imports hang upside down about 3400 rmbs, and the forward aluminum imports inverted about 3600 rmbs. Aluminum premium continued staying in high level, the imports inversions widened once again. Downstream consumer corporate were unable to import aluminum and the market continued having price without sales. LME aluminum price structure forward contango turned into back, but towards the end of this year, poor demand caused a low buying appetite. Some traders said that most 2014 aluminum annual contract were suffering losses, thus participants were still on the sidelines for signing 2015 annual contract. On the other hand, there were some traders said that they would still sign some aluminum annual contract 2015. Recently, some large traders were purchasing a large number of aluminum ingot.

 

Edited by SHMET

Copper Import Market Briefing 20141222

Date Dec 22 2014 15:27:01Source:SHMET
Dec.22,2014(SHMET)--

Shanghai electrolytic copper CIF(B/L) premium was quoted at 65-80 dollars per ton. Shanghai electrolytic copper bonded warehouse warrants premium was quoted at 70-80 dollars per ton, it recovered, especially the warrants. Shanghai cash copper against LME 3-month copper is a ratio of 7.24. The ratio that Shanghai copper main contract against LME 3-month copper is 7.17. LME cash copper is in a backwardation of 48 dollars against 3m forward price. Today, the spot copper imports hang upside down about 1000 rmbs and the 3m forward copper price of import inverted about 2000 rmbs per ton. The wet processed copper premium is about 65-70 dollars per ton. The ordinary fire processed copper premium is about 70-75 dollars per ton. Chile fire processed copper premium is 75-80 dollars per ton. LME forward premium were still at about 50 dollars. The purchasing enthusiasm continued to be weak and market remained a light pattern. The selling offer were quite a lot, but reactions from buyers were rare to see. Currently, downstream buyers faced capital pressure in general and the buyers demand for L/C were quite less. Current buying offer looked growing but most of them were from the traders who wanted to purchase at cheap price. Moreover, the traders offer were very low while the sellers did not want to sell at cheap price. Therefore, the overall trading were not good.

Edited by SHMET

Nickel-SHMET Spot Market Briefing20141219

Date Dec 19 2014 15:32:53Source:SHMET
Dec.19,2014(SHMET)--

LME base metal on Thursday slipped across the board as the investors believed that metal price were comparatively high against other commodity such as crude oil. Besides, the main consumer China's housing price data indicated its economic outlook were still weak. LME three-month nickel closed unchanged at 15645 dollars. Today, Asian select reported at 15522 dollars per ton. Impacted by the movement in LME select, Shanghai spot Jinchuan nickel were quoted at 109200-109300 rmbs per ton, Russian nickel were quoted at 108900-109000 rmbs per ton, down 1200 from yesterday. Jinchuan group decreased the factory price of nickel cathode by 3000 rmbs to 111000 rmbs per ton. Nickel price fell constantly, led to that buyers continued remaining the sideline sentiment with purchasing wills weakening and the trading conditions being further quiet. In technical, LME nickel remained bearish in overall. Despite the support near 15200/15300 dollars were found, but it could not rule out the possibility of breaking through 15000 dollars barrier again.

 

Edited by SHMET
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