SMM Daily Review - 2010/1/6 Nickel Market-Shanghai Metals Market

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SMM Daily Review - 2010/1/6 Nickel Market

SMM Insight 10:20:22AM Jan 07, 2010 Source:SMM

SHANGHAI, Jan. 7 (SMM) -- LME nickel prices fluctuated in the USD 18,650-18,900/mt range on Tuesday, failing to break through USD 19,000/mt. LME nickel prices continued to head for USD 19,000/mt yesterday, receiving support from below 10-day moving average, but KDJ indicator narrowed further.

In Shanghai nickel market, the upward momentum for nickel prices was affected negatively by LME nickel prices, with prices for goods from Jinchuan Group in the RMB 141,500-142,000/mt range, while prices for imported nickel were firm at RMB 141,000/mt, with limited supply. Today, trades stagnated yesterday, but optimism remained unchanged, with supply still limited.

 

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None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

SMM Daily Review - 2010/1/6 Nickel Market

SMM Insight 10:20:22AM Jan 07, 2010 Source:SMM

SHANGHAI, Jan. 7 (SMM) -- LME nickel prices fluctuated in the USD 18,650-18,900/mt range on Tuesday, failing to break through USD 19,000/mt. LME nickel prices continued to head for USD 19,000/mt yesterday, receiving support from below 10-day moving average, but KDJ indicator narrowed further.

In Shanghai nickel market, the upward momentum for nickel prices was affected negatively by LME nickel prices, with prices for goods from Jinchuan Group in the RMB 141,500-142,000/mt range, while prices for imported nickel were firm at RMB 141,000/mt, with limited supply. Today, trades stagnated yesterday, but optimism remained unchanged, with supply still limited.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn