Nickel review: poor downstream demand nickel prices upward
the futures market, OPEC has not reached an agreement new production targets in the evening, no production will maintain the target state is changeless, oil price volatility, market sentiment, overnight international metal mixed, nickel fell slightly, and the latest closing price quote $8410 down $40. Today Shanghai nickel on the current opening price 67640 yuan rise 1310 yuan 1606 contracts, nickel 09:20 Shanghai 1606 contracts to 65860 yuan, down 470 yuan. Days after lack of support, Shanghai nickel or consolidation.
London metal exchange ( LME） 2, Aaron ni latest inventory of 400008 metric tons, less than the previous trading day 1500 metric tons.
is expected: short-term news good or bad arguments, industrial metals have different performance, downstream weak demand for nickel, nickel prices, is expected to short-term performance is still weak, today's spot nickel or went sideways.
【 Nickel information 】 The world's largest producer of nickel and palladium norilsk nickel industry ( Norilsk Nickel） In the first quarter of 2016 copper, nickel production. A total of 6 quarter nickel production. 40000 tons, 70000 tons of the first quarter of 2015 compared with nickel production decline in 8. 6%. Has its own mines raw material supply nickel production is 5. 20000 tons, compared with a 5% drop in the same period in 2015. A total of eight quarter of copper production. 70000 tons, fell 3%. Has its own mines raw material supply copper production is 5. 80000 tons, fell 1%. Copper production decline is caused due to lower copper ore copper content.