On September 28th news of London, London metal exchange (
Period of tin on Wednesday rose to the highest level since January last year, due to falling inventories;
And nickel struggled to rise, investors evaluate the largest nickel ore exporter the possible impact of nickel mines shut down in the Philippines.
a major exporter of tin of Indonesia's exports to reduce and increase for mumbai minerals can last question prompted investors to buy tin.
the LME data showed that its tin registered stock has dropped to 1625 tons, the lowest since 1998.
London time on September 28, 16:00 (
On September 29, Beijing time 00:00)
, the three-month tin rose 0.
6%, to $19850, the intraday rise to in January last year to top $19950.
So far this year period has surged 37% tin, performance after zinc in LME base metals.
but one analyst said that if not exchange supervision warehouse stock in the market, tin gains may be limited.
senior commodities economist CarolineBain CapitalEconomics said & other;
Good fundamentals, tin price rise this year;
But the market may not be as tight as exchange data show later.
she said & other;
I suspect that tin inventory reduction may be higher than we can see the number of on data exchange.
Of course the last prices rose sharply, stock began to increase again.
the three-month nickel rose 0.
6%, to $10695 per ton, as high as seven weeks high yesterday.
used in the manufacture of stainless steel, nickel, nickel prices touching $10900 on Tuesday to its highest close since August 10, 20 mines shut down again after the Philippines said, most of them are nickel, for violating the environmental protection laws and regulations.
the Philippines for the past two months has called for a 10 mines during the review, the review aims to punish irresponsible mining companies, the government has vowed to implement stricter than countries such as Canada and Australia.
20 mines shut down again, after the country's only 11 in operation, the nickel mines account for a quarter of the world's supply, most of them have been to China.
but these mines after receiving the report within seven days can explain why is in violation of the provisions of, after the Philippines will ultimately determine whether these mines shut down.
ANZ senior commodity strategist DanielHynes said that nickel prices failed to continue to rally, according to the market is still in the Philippines have doubts may shut down the effect of nickel.
because of the influence of monsoon season mining and transportation, this paragraph of time the world nickel supply the impact may be limited.
the three-month zinc up 0.
6%, to $2333 per ton.
NicholasSnowdon standard chartered analyst, said in a report zinc rally has lost momentum, in part by the main consumer demand in China.