Nickel review: market demand not seen obviously improve nickel prices fall
futures market traders in the strong seasonal demand lock in profits after push up oil prices, lower oil prices on Friday, the commodity price dropped back, nickel shock downward, closed down $225, the latest closing price of $8655, down to 2. 53%; Shanghai nickel on main 1605 contract today opening price 69750 yuan rise 70 yuan, Shanghai nickel after shock opening decline, nickel 09:30 Shanghai 1605 contracts to 68410 yuan, down 1270 yuan. Days, investors would like attitude, expected today Shanghai nickel low consolidation.
London metal exchange ( LME） 18 Aaron ni latest inventory of 434508 metric tons, the previous trading day inventory to reduce 330 metric tons.
is expected: inco research organization predicts that global demand for nickel is expected to rise to 196 in 2016. 50000 tons, 2015 in 190. 50000 tons. While the market the majority of people optimistic about future demand for nickel market performance, but at the same time inco research organization forecast: most of the demand will come from China, but not sure is from the actual consumer demand, nickel was Shanghai investors for delivery purposes. Still no obvious rebound in the short term, the market demand, today Shanghai nickel or return to consolidation trend, spot nickel fell.
【 Nickel information 】 Consultancy - - British institute of goods ( CRU Group) Said, because the nickel inventories and weak demand in China, since the beginning of 2015, prices have tumbled more than 40%, there are about 70% of the nickel ore losses around the world. But the demand for stability, production can effectively boost the London metal exchange ( LME) Benchmark price of nickel, nickel recent London hit a 13-year low of $7550 per ton. At present, the nickel in the $8525 contract. “ Although demand growth, but because of China's nickel pig iron no manufacturer production, market supply fell by 7%. ” Macquarie ( 麦格理(Macquarie)) Senior adviser Jim Lennon reclaimed said.