Nickel review: poor demand outlook nickel prices pressure down
Shanghai nickel or weak consolidation, nickel material is falling.
the futures market: last week the federal reserve to raise interest rates expected to drive, base metal under pressure, comprehensive week closed at $8475 down $90 acquisition of nickel, down to 1. 05%; Today Shanghai nickel open slightly higher, the current month opening price 67370 yuan rise 340 yuan 1606 contracts, nickel 09:20 Shanghai futures at $1606 to $66010, down 1020 yuan. Many economic data will be released this week, markets wait-and-see atmosphere, today Shanghai copper weak consolidation.
London metal exchange ( LME） 20 Aaron ni latest inventory of 404556 metric tons, less than the previous trading day 1104 metric tons.
is expected: domestic stainless steel market orders declined obviously in May, the late consumer concern, nickel demand outlook, spot market for the downstream procurement, nickel trend is weak, today's Shanghai is expected to spot nickel down today.
【 Nickel information 】 In the near term, Aneka Tambang ( Antam) Company will complete located southeast sulawesi Pomalaa nickel iron smelter ( 冶炼厂Ferronikel) Engineering, since 2014 to build the smelter project. Besides expansion Pomalaa nickel and iron smelters, Antam company is planning to build the new smelter, for example, on April 19 this year, the company has rich le (with Germany Ferrostaal） And project development agreement Cronimet ( PDA) 。 The cooperation project investment reached $800 million, Antam company will hold a 25% stake, at the same time, fule and Cronimet hold 75%, according to the plan, the factory will put 1. 85 million tons of nickel ore processing become 10000 9500 tons of nickel and iron.