Slightly Strong Speculating Sentiment in Domestic EMM Market-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Market commentary
  • Production data
  • Macroeconomics
  • Zinc
  • Morning comments
  • Futures movement
  • NPI
  • Aluminium
  • Copper
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations
  • nickel laterite

Slightly Strong Speculating Sentiment in Domestic EMM Market

SMM Insight 04:14:14PM Mar 22, 2010 Source:SMM

SHANGHAI, Mar. 22 (SMM) -- Today, mainstream offers of EMM were in the RMB 14,900-15,100/mt range. Prices were pushed up by purchases from large traders, and transactions were mainly made among traders.

It was reported that domestic EMM prices advanced to certain extend due to purchases from large traders, although fundamentals didn’t improve. Offers from some producers were as high as RMB 15,200/mt, and prices increased by RMB 400/mt only within two days.

It was also reported that purchasing volumes didn't increase although prices were up. Most market players still adopted a wait-and-see attitude due to still sluggish market fundamentals. Some market players even joked that unreadable price increases laid a solid foundation for price slumps in the future.

To contact the writer on this report: jianghanmei@smm.cn

 

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
 

 

Slightly Strong Speculating Sentiment in Domestic EMM Market

SMM Insight 04:14:14PM Mar 22, 2010 Source:SMM

SHANGHAI, Mar. 22 (SMM) -- Today, mainstream offers of EMM were in the RMB 14,900-15,100/mt range. Prices were pushed up by purchases from large traders, and transactions were mainly made among traders.

It was reported that domestic EMM prices advanced to certain extend due to purchases from large traders, although fundamentals didn’t improve. Offers from some producers were as high as RMB 15,200/mt, and prices increased by RMB 400/mt only within two days.

It was also reported that purchasing volumes didn't increase although prices were up. Most market players still adopted a wait-and-see attitude due to still sluggish market fundamentals. Some market players even joked that unreadable price increases laid a solid foundation for price slumps in the future.

To contact the writer on this report: jianghanmei@smm.cn

 

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