Ni week review: next week to high and volatile prices or ( 8. 01 - 8. 05)
graph: the LME three-month nickel market day K line
this cycle nickel high and volatile, Aaron ni moves closer to sideways, trading range is 10440 - $10850 / ton, or space is $410 / ton. Shanghai nickel under the big pattern of shocks, a substantial rise before they fall, the main contract trading range is 81410-1701 85700 yuan/ton.
Shanghai jinchuan nickel spot market clinch a deal the interval is 80000 - Submitted to the 80000-81900 yuan/ton, Friday 80300 yuan/ton, on Friday reported 80500 - 80800 yuan/ton. Jinchuan ex-factory price of 81000 yuan/ton to 80800 yuan/ton, weeks up to 82200 yuan/ton.
the market at present is still focused on the nickel in the Philippines, the Philippines, the new President took office in June to begin environmental rectification, caused a sustainable impact on nickel. Philippine President once again stressed this week, mining companies is not strictly abide by the environmental law to be closed, after the operation of the Philippines has suspended seven domestic mines. The seven nickel mines, mine production is close to the Philippines in 2015, 10% of nickel production.
2, nickel prices trend forecast next week, according to data from the
the Philippines nickel ore supply global accounted for over 20%, Goldman sachs expects the Philippines mining policy may make it a quarter nickel production. From the recent trends, the mining policy will continue to be supportive of nickel prices.
but the markets also have different sounds, think China or seek more from XinKa as source of nickel ore. We believe that in today's mining protection policies are increasingly strict, finding sustainable supply source is difficult. The nickel policy is expected to continue for the next 6 - 12 months nickel prices.
the supply and demand structure improvement is expected to drive, nickel prices have risen more than 20% this year. The Philippines events to strengthen the supply reduction, nickel prices of most of the gains in June and July. Now see, nickel market has accumulated more profit, some of the money cash earnings will is stronger, nickel prices upward strength decreased after mid-july.
a macro level, the recent U. S. economic data, the federal reserve to raise interest rates ahead of expectations have risen, follow-up can focus on August 5, non-farm payrolls data. China, recent policy focus tended to reform, and high stress the asset bubbles, monetary easing or limited space. Comprehensive,
the Philippines nickel ore supply limited will continue to provide support for nickel, but nickel long cash earnings will is strong, positive and macroscopic level is limited, is expected next week to high and volatile Aaron nickel, mainly trading range or - in 10300 $10900 / ton.