Ni week review: nickel prices difficult next week from concussion ( 8. 15 - 8. 21)
graph: the LME three-month nickel market day K line
rich treasure information on July 29 news:
this cycle nickel as weak shock performance shocks, center of gravity down than last week, on Wednesday, Aaron nickel hit near January 10175 dollars/tons of low. This week's nickel operation interval in 10175 - as a whole $10500 / ton. Shanghai nickel fluctuate significantly less than outside dish, trading range is 80260-1701 main contract weeks 82500 yuan/ton.
Shanghai jinchuan nickel spot market clinch a deal the interval is 79500 - Week 79900 yuan/ton, the average price of 79670 yuan/ton, the average price of 81470 yuan/ton last week. Russian nickel clinch a deal the interval is 79100 - 79500 yuan/ton. Jinchuan ex-factory price adjustment, three times on Monday for 80000 yuan/ton, 80500 yuan/ton on Tuesday, Wednesday, 80000 yuan/ton, remain unchanged after two days.
macro factors limited this week, the market focus on the fed to raise interest rates and oil producer frozen production forecast. Closed nickel mines the Philippine side is no more news, the market does not continue to hype the factor, nickel prices below the power is insufficient, so after prices fell on Friday, this week did not show the strong rebound in intention, pattern of whole range.
2, nickel prices trend forecast next week
China this week without more financial data, but data released last week is pale and that makes the market concerned, concerns about China's economic growth is slowing trend to speed up the mounting, loss and market confidence, nickel consumption outlook is grim, September data recovery in China, unless otherwise or nickel prices rebound slightly weak.
in the United States, the United States housing starts growth on July 2. 1% of record in May; Building permits in July from negative to zero. Before 1%, the difference in value; First trial on August 13, the week jobless claims is the previous value declined, 26. 20000 people. A rare mixed as a whole, U. S. economic data, but the Labour market overall situation is still good. But from the point of the federal reserve announced July meeting minutes, even though the fed has already agree on labor market better, but there are considerable differences of inflation picks up. Differences also means that the possibility of the federal reserve will raise interest rates in September is extremely low, pay attention to the chairman of the federal reserve next week yellen speaking, or will set the tone for the second half of raising interest rates process.
the supply and demand, according to the world metal statistics ( WBMS) According to data released on Wednesday, the first half of 2016 the world nickel supply shortage, apparent demand more than 8 production. 020000 tons. Data show that in the first half of this year nickel supply shortage is still severe, and the Philippines in July environmental protection inspection to shut down the country's many nickel ore, from a certain extent, contributed to the nickel in short supply situation. But due to the excessive market speculation environmental issues in the Philippines, the more positive digested by the market, at present of nickel prices pushed up role is very limited, nickel prices rose again to seek consumer face though, so prices rising consumption season in September or will have a chance.
the above factors comprehensively, the current supply and demand of nickel itself surface positive digested by the market, the recent macro performance light does not support the nickel prices strong, at the same time the distance with the advent of consumption season in September is still nearly two weeks time, consumption will not appear suddenly get better phenomenon, so while medium-term nickel prices remain bullish, but short-term or will remain volatile. Next week is expected to nickel prices volatile market cannot alter, major trading range or - in 10000 Between $10500 / ton.