Nickel review: investors profit leave for nickel prices reverse nickel rally in Shanghai shock consolidation
the futures market, investors profit leave last weekend to nickel prices reverse gains, on Friday night Aaron nickel weak finishing, closed down 0. Latest closing price 75%, reported 10635 dollars; Today Shanghai nickel low open, main 1609 contract the opening 80680 fell 580 yuan, nickel 09:20 Shanghai 1609 contracts to 81730 yuan, up 470 yuan. U. S. economic growth data was disappointing, nickel prices rise limited today.
London metal exchange ( LME） 29 Aaron ni latest inventory of 373074 metric tons, less than the previous trading day 1524 metric tons.
is expected: the Philippines government review of mines to investors worried about the supply of the nickel ore, the Philippine government pledged to close mine environmental pollution, but nickel inventories are still high, the market worried about the recent because of the Philippines have driven supply concerns rise too much; Shanghai nickel consolidation today, is expected to spot nickel or not.
【 Nickel information 】 The largest nickel miners Asia nickel industry in the Philippines, a subsidiary of HMC in the past two months to restart idle nickel project to promote local economic development for a long time, but mining regulators ongoing review will lead to this situation won't last very long. HMC in May to China shipping nickel ore inventory, in addition to the wind and rain, the inventory has been 15 years not be disturbed. Last week, the Philippines, the environment minister, Regina Lopez said the HMC has voluntarily stop nickel shipment, subject to scrutiny of its mineral rights. According to the HMC, company officials said the HMC in complete Manicani wet 50000 tons of nickel ore shipment after work, will stop the ore transport. The best situation is that the weather is good, work will be completed within one week of shipment.