SMM Nickel Price Forecast (Jun. 4-8)-Shanghai Metals Market

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SMM Nickel Price Forecast (Jun. 4-8)

SMM Insight 05:35:41PM Jun 04, 2012 Source:SMM

SHANGHAI, Jun. 4 (SMM) -- By the close of last Friday, the average spot nickel price was RMB 125,120/mt, down RMB 680/mt from the previous week, but spot prices resisted declines. Downstream buyers increased purchases early in the week as prices moved lower, but traders were unwilling to sell goods. As LME nickel prices continued to fall, however, most downstream producers became cautious and took a wait-and-see attitude. Russia raised export taxes by 16.2%, effective June 5th 2012. Traders did not response strongly to the news, believing prices will depend more on downstream demand.

Key Words:  nickel 

Price

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1# Silver ingots(99.99%)
May.24
3509.0
18.0
(0.52%)
2# Silver ingots(99.95%)
May.24
3494.0
18.0
(0.52%)
3# Silver ingots(99.90%)
May.24
3479.0
18.0
(0.52%)
Gold(99.99%)
May.24
288.8
2.3
(0.79%)
Gold(99.95%)
May.24
288.5
2.0
(0.70%)

SMM Nickel Price Forecast (Jun. 4-8)

SMM Insight 05:35:41PM Jun 04, 2012 Source:SMM

SHANGHAI, Jun. 4 (SMM) -- By the close of last Friday, the average spot nickel price was RMB 125,120/mt, down RMB 680/mt from the previous week, but spot prices resisted declines. Downstream buyers increased purchases early in the week as prices moved lower, but traders were unwilling to sell goods. As LME nickel prices continued to fall, however, most downstream producers became cautious and took a wait-and-see attitude. Russia raised export taxes by 16.2%, effective June 5th 2012. Traders did not response strongly to the news, believing prices will depend more on downstream demand.

Key Words:  nickel