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.
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.
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.
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.
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.
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