SMM Daily Review - 2010/1/13 Nickel Market-Shanghai Metals Market

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SMM Daily Review - 2010/1/13 Nickel Market

SMM Insight 11:50:32AM Jan 14, 2010 Source:SMM

SHANGHAI, Jan. 14 (SMM) -- On Tuesday night, LME nickel prices fell below 60-day moving average. On Wednesday, prices tested USD 17,325/mt. Technically, although BRAR indicated downward price trend, KDJ suggested weak momentum for price to fell.

In the Shanghai nickel market, Jinchuan Group cut nickel ex-works prices by RMB 4,000/mt to RMB 139,000/mt on January on Wednesday. Goods from Jinchuan goods struggled to be trade at RMB 140,000/mt, but deals were mainly made by traders who were optimistic towards price trend in the future. Prices of imported nickel were in the RMB 139,000-139,500/mt range. Prices of nickel from Jinchuan group had difficulty in standing above RMB 140,000/mt and might be adjusted further.

 

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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

Key Words:  nickel Ni  nickel price 

SMM Daily Review - 2010/1/13 Nickel Market

SMM Insight 11:50:32AM Jan 14, 2010 Source:SMM

SHANGHAI, Jan. 14 (SMM) -- On Tuesday night, LME nickel prices fell below 60-day moving average. On Wednesday, prices tested USD 17,325/mt. Technically, although BRAR indicated downward price trend, KDJ suggested weak momentum for price to fell.

In the Shanghai nickel market, Jinchuan Group cut nickel ex-works prices by RMB 4,000/mt to RMB 139,000/mt on January on Wednesday. Goods from Jinchuan goods struggled to be trade at RMB 140,000/mt, but deals were mainly made by traders who were optimistic towards price trend in the future. Prices of imported nickel were in the RMB 139,000-139,500/mt range. Prices of nickel from Jinchuan group had difficulty in standing above RMB 140,000/mt and might be adjusted further.

 

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

Key Words:  nickel Ni  nickel price