SMM Morning Review - 2010/12/27 Nickel Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/27 Nickel Market

SMM Insight 09:28:52AM Dec 27, 2010 Source:SMM

SHANGHAI, Dec. 27 (SMM) -- LME nickel prices opened at an intraday low at USD 23,800/mt last Friday, and closed at USD 23,921/mt, up by USD 81/mt or up by 0.34% from a day earlier, with the highest price at USD 24,100/mt. Daily trading volumes were 560 lots and positions were 100,670 lots. LME nickel prices fluctuated narrowly last Friday. With the coming of Christmas holiday, buying interest waned in the short term and trading sentiment was neutral, with players largely liquidating their positions.

Market risk appetite is affected by many factors, such as European financial crisis, uncertainties of additional stimulus measures from the US, concern over China’s further monetary policy as well as launch of physically-backed ETFs. China’s central bank unexpectedly raised RMB benchmark deposit and lending interest rates by 0.25%, effective from December 26th, which is expected to weigh base metal prices. 

LME market will be closed on December 27th.

 

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   nickel price  

SMM Morning Review - 2010/12/27 Nickel Market

SMM Insight 09:28:52AM Dec 27, 2010 Source:SMM

SHANGHAI, Dec. 27 (SMM) -- LME nickel prices opened at an intraday low at USD 23,800/mt last Friday, and closed at USD 23,921/mt, up by USD 81/mt or up by 0.34% from a day earlier, with the highest price at USD 24,100/mt. Daily trading volumes were 560 lots and positions were 100,670 lots. LME nickel prices fluctuated narrowly last Friday. With the coming of Christmas holiday, buying interest waned in the short term and trading sentiment was neutral, with players largely liquidating their positions.

Market risk appetite is affected by many factors, such as European financial crisis, uncertainties of additional stimulus measures from the US, concern over China’s further monetary policy as well as launch of physically-backed ETFs. China’s central bank unexpectedly raised RMB benchmark deposit and lending interest rates by 0.25%, effective from December 26th, which is expected to weigh base metal prices. 

LME market will be closed on December 27th.

 

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   nickel price