Nickel review: supply concerns supported nickel prices is expected to be extended gains
the futures market, crude oil output growth, the market risk aversion to heat up, oil prices fell to lows, ten weeks late international metal pressure, nickel and weak turbulence, and fell down $115, the latest closing price at $10475, down to 1. 09%; Shanghai nickel on main 1609 contract today opening price 81750 yuan down 430 yuan, nickel 09:20 Shanghai futures at $1609 to $82080, down 100 yuan. The rising dollar hit commodity trading enthusiasm, Shanghai nickel consolidation is expected today.
London metal exchange ( LME） 19 Aaron ni latest inventory of 377748 metric tons, 768 metric tons more than the previous session.
is expected: the Philippines corrective intensified nickel, nickel mines has been shut down gradually increased, the recent closure of palawan region its Berong nickel or actual effects on the nickel ore supply, also gives effective support prices. Today Shanghai nickel good Yu Lun nickel, nickel spot or stabilization is given priority to.
【 Nickel information 】
myanmar to gongshan nickel iron smelting recovery nickel iron export since July. Since September 2015, the government banned export of nickel iron, during this period the project to maintain production, nickel iron inventory accumulation reached 60000 tons. Due to the recent nickel prices rebound, the Burmese government and reach an agreement, the smelter in July began to recover nickel iron exports, is expected to export 5000 tons of nickel iron, monthly mainly shipped to taiyuan. The smelter is 27 - production of nickel content 30% nickel iron, with an annual output of 85000 tons. Banned the export of the main reason is that the Burmese government requirements and smelters to renegotiate nickel iron sales model.