SMM Morning Review - 2010/5/28 Nickel Market-Shanghai Metals Market

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SMM Morning Review - 2010/5/28 Nickel Market

SMM Insight 10:12:16AM May 28, 2010 Source:SMM

SHANGHAI, May 28 (SMM) -- LME nickel for delivery in three months opened at USD 21,000/mt and closed at USD 21,696/mt, up USD 356/mt from a day earlier, with highest price at USD 21,800/mt and lowest price at USD 21,000/mt. Daily trading volumes were 1,505 lots and positions were 89,444 lots.

In view that the global economic data were improving, market confidence regained, and the concern that financial constraints and weak prospect of growth in euro zone may dray down global economy was eased to certain extant from previous days, the euro rebounded robustly and the stock market also advanced, pushing up all base metal prices. However, trading volumes were still low, an indication that investors' confidence flickered and the concern over euro zone still existed.

It is expected that LME nickel prices will move between USD 21,000-22,000/mt today.

To contact the writer on this report: cracewu@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
 
 

Key Words:  nickel Ni  nickel price  

SMM Morning Review - 2010/5/28 Nickel Market

SMM Insight 10:12:16AM May 28, 2010 Source:SMM

SHANGHAI, May 28 (SMM) -- LME nickel for delivery in three months opened at USD 21,000/mt and closed at USD 21,696/mt, up USD 356/mt from a day earlier, with highest price at USD 21,800/mt and lowest price at USD 21,000/mt. Daily trading volumes were 1,505 lots and positions were 89,444 lots.

In view that the global economic data were improving, market confidence regained, and the concern that financial constraints and weak prospect of growth in euro zone may dray down global economy was eased to certain extant from previous days, the euro rebounded robustly and the stock market also advanced, pushing up all base metal prices. However, trading volumes were still low, an indication that investors' confidence flickered and the concern over euro zone still existed.

It is expected that LME nickel prices will move between USD 21,000-22,000/mt today.

To contact the writer on this report: cracewu@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
 
 

Key Words:  nickel Ni  nickel price