SMM Morning Review - 2010/6/25 Nickel Market-Shanghai Metals Market

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SMM Morning Review - 2010/6/25 Nickel Market

SMM Insight 09:56:57AM Jun 25, 2010 Source:SMM

SHANGHAI, Jun. 25 (SMM) -- LME nickel for delivery in three months opened at USD 19,344/mt and closed at USD 19,600/mt on June 24th, up USD 320/mt from a day earlier, with the highest price at USD 19,689/mt and the lowest price at USD 19,280/mt. Daily trading volumes were 1,077 lots and positions were 87,149 lots.

The US Department of Commerce announced on Thursday that the US durable orders in May were up 2.2% on a monthly basis, discounting national defense and commercial airplane orders, and the previous prediction was 1.2%. Moreover, last week initial jobless claims were down, lending support to boost market confidence. In this context, the euro strengthened against the US dollar, and base metal prices advanced.

LME nickel prices will continue to fluctuate between current price range between USD 19,000-20,000/mt on June 25th.

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 - 2010/6/25 Nickel Market

SMM Insight 09:56:57AM Jun 25, 2010 Source:SMM

SHANGHAI, Jun. 25 (SMM) -- LME nickel for delivery in three months opened at USD 19,344/mt and closed at USD 19,600/mt on June 24th, up USD 320/mt from a day earlier, with the highest price at USD 19,689/mt and the lowest price at USD 19,280/mt. Daily trading volumes were 1,077 lots and positions were 87,149 lots.

The US Department of Commerce announced on Thursday that the US durable orders in May were up 2.2% on a monthly basis, discounting national defense and commercial airplane orders, and the previous prediction was 1.2%. Moreover, last week initial jobless claims were down, lending support to boost market confidence. In this context, the euro strengthened against the US dollar, and base metal prices advanced.

LME nickel prices will continue to fluctuate between current price range between USD 19,000-20,000/mt on June 25th.

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