Nickel review: stainless steel prices slowing demand upside is limited
the futures market, the labor department said, according to data from the United States in April CPI data rose 0. 4%, its fastest pace since February 2013, the market sentiment to get a boost, London nickel closed up $65, the latest closing price of $8750, up $65, or 0. 75%; Today Shanghai nickel on the current opening price 68020 yuan rose $40, 1606 contracts 09:20 Shanghai nickel 1606 contracts to 68560 yuan, up 580 yuan. U. S. oil and closing high drive the market risk preference, seven months today Shanghai nickel or strong shock.
London metal exchange ( LME） 17, Aaron ni latest inventory of 405858 metric tons, less than the previous trading day 606 metric tons.
is expected: recent nickel prices seesawed, although domestic nickel production cuts, but was offset by large foreign enterprises increase production scale, including glencore, Mr Herman, Anglo American ring year-on-year increase. As the end of the domestic stainless steel seasonal period nickel prices is expected to rise further space will be suppressed, Shanghai nickel strong consolidation today, is expected to spot nickel stabilization is given priority to.
【 Nickel information 】 Posco's daewoo said recently, intended to sell 2006 purchase of Madagascar Ambatobi nickel stake. Ambatobi nickel mine mining official in 2012, after the medium and long term plan is that each year over the next 30 years to produce 60000 tons of 5600 tons of nickel and cobalt. However, as the international nickel prices tumble, has the massive losses every year. Posco group since 2014, when the proposed & other; Innovation posco & throughout; Slogan, and boldly self-help measures. As subsidiary, posco daewoo company is cleared is located in China's trade division, el Salvador, Malaysia. Therefore, sell Ambatobi nickel mining equity can also be seen as clean up the losses of assets in advance.