Nickel prices short-term or consolidate, focus on non-agricultural data
Aaron nickel consolidation this week. Monday at $10600, up to $10650 this week, the lowest $10440 this week, to press time closed at $10630, down $5 this week, weeks, or 0. 05%. Shanghai main nickel high rushed back this week. Monday at 82100 yuan, after the opening shock strong, high hit on Wednesday weeks after 85700 yuan weak decline, this week, the lowest 81410 yuan, slightly rebounded Friday, closed at 82970 yuan, up 1180 yuan, week 1. 44%. Spot trading of
Shanghai trading center (metal extraction solution The original WuMao colored spot market) This week, the spot main clinch a deal the interval in 80000 - nickel 81900 yuan/ton. Nickel prices this week after magnified, Monday and Tuesday, downstream feared high wait-and-see is given priority to, the second half of the week nickel prices fall, the downstream demand purchasing increase slightly rebounded from last week, traders move goods carry positive, overall general market activity. Today Shanghai trading center (metal extraction solution The original WuMao colored spot market) , the spot nickel mainly deal interval in 80000 - in the morning 80300 yuan/ton, compared with the previous trading day down 1200 yuan/ton, in wuxi 1608 liter discount c500 contract - in the morning The c200 yuan/ton. Shanghai trading center spot nickel metal extraction solution index at 80081 points, compared with the previous trading day down 1200 points. The market well supplied, traders move goods more, downstream of a small amount of stock, stock trading. According to Shanghai trading center metal extraction solution research results, some traders think the recent nickel prices shock.
【 Center point 】
China: according to HOME LINK and centaline property, according to Shanghai July new house prices have been refresh record high, the housing market heat. In the first half of 2016 in chongqing and GDP by 10 in Tibet. 6% growth at the top of the list, growth is higher than 21 provinces and cities in the second quarter of the country's six. 7%, Beijing, Shanghai, jilin and national growth levels. Development and reform commission (NDRC) push & other; High iron economy & throughout; , intentions to build China & other; High iron economic ecosystem & throughout; , to speed up the railway construction is advantageous to the increase of steel consumption, nickel or increasing demand.
strong U. S. data released this week, the United States in July non-farm better than expected, tonight will be released on July payroll data, economists expect the payrolls increased by 180000 in July. The United States in June orders for durable goods and factory orders were better than expected; June individual consumer spending is still strong and core PCE year-on-year growth remain high.
the euro: the euro zone composite PMI highest up to 6 months, according to British referendum back the degree of the impact of the spread is not serious. The bank of England cut interest rates for the first time in seven years, and expand the scale of QE, buffer back to the impact of the UK, most of the MPC is expected to further rate cuts this year, and is expected to cut interest rates to near zero at the end of the year.
the spot: fair market supply, traders carry out arbitrage, downstream on-demand procurement is given priority to, clinch a deal the spot market conditions were little changed from last week. Shanghai main nickel high rushed back this week, but did not fall below the rail, nickel high consolidation, and line support below 20 is stronger, the rate cut, nickel prices stop falling. On the recent trends of it, nickel prices momentum is insufficient, but less downward pressure, focus on non-agricultural data tonight, or remain volatile in the short term.