[SMM Nickel Morning Review] Lunni stands above the 5 / 10 moving average to explore the first line of US $11500 / ton.

Published: Apr 8, 2020 08:53

SMM4, 8 March:

Lunni opened at $11320 a tonne yesterday. At the beginning of the session, Lunni rose to $11460 / tonne, the pressure shock fell back, the center of gravity fell to $11370 / tonne position, and then Lunni consolidated around that position. In the afternoon, Lunni shook up again. Before noon, the same high pressure fell slightly, and the first line of US $11400 / ton was supported. At the end of the day, Lunni went up through the daytime resistance level by US $11500 / ton, and above it faced 20 days of moving average resistance and pressure shock downward. Finally, it closed at US $11430 / ton, up US $150 / ton, or 1.33%, compared with the settlement price of the previous trading day. Trading volume increased by 3714 hands to 5928 hands. The position increased by 135 hands and 223000 hands. Lunni closed in the small pillar yesterday, the K column as a whole stood at the intersection of the 5 / 10 moving average and the 20-day moving average range, the uplink pressure is larger, today pay attention to the 20-day moving average under the pressure of Lunni.

 

[for more information, please subscribe to SMM Nickel Research Group products "China Nickel Chromium stainless Steel Industry chain General report" and "China Nickel Chrome stainless Steel Industry chain High end report" to obtain the latest nickel mine, nickel pig iron (China + Indonesia), electrolytic nickel, nickel sulfate, chromium ore, ferrochromium, stainless steel (China + Indonesia) related data analysis and market analysis! For ordering and trial reading, please call 021-5166 6817 QQ: 2880505562, contact: Li Chuntian]

     
 (上海有 色 网  李春田 TEL:021-5166 6817 QQ :2880505562)

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[Nickel Pig Iron Daily Review] Arbitrage Selling Decreases, High-Grade NPI Quotations Gradually Return to Rationality
14 hours ago
[Nickel Pig Iron Daily Review] Arbitrage Selling Decreases, High-Grade NPI Quotations Gradually Return to Rationality
Read More
[Nickel Pig Iron Daily Review] Arbitrage Selling Decreases, High-Grade NPI Quotations Gradually Return to Rationality
[Nickel Pig Iron Daily Review] Arbitrage Selling Decreases, High-Grade NPI Quotations Gradually Return to Rationality
[SMM Daily Review: Arbitrage Selling Decreases, High-Grade NPI Offers Gradually Return to Rationality] February 4 (SMM) - The average price of SMM 10-12% high-grade NPI was 1,030 yuan/mtu (ex-factory, tax included), down 2.5 yuan/mtu MoM from the previous working day.
14 hours ago
【SMM Nickel News】GMA Sultra Urges Suspension of PT GMS’s 2026 RKAB Over Alleged Illegal Nickel Ore Sales
15 hours ago
【SMM Nickel News】GMA Sultra Urges Suspension of PT GMS’s 2026 RKAB Over Alleged Illegal Nickel Ore Sales
Read More
【SMM Nickel News】GMA Sultra Urges Suspension of PT GMS’s 2026 RKAB Over Alleged Illegal Nickel Ore Sales
【SMM Nickel News】GMA Sultra Urges Suspension of PT GMS’s 2026 RKAB Over Alleged Illegal Nickel Ore Sales
According to Suara Sultra News, Garda Muda Anoa Sultra (GMA Sultra) has formally urged the Indonesian Minister of Energy and Mineral Resources to freeze the 2026 RKAB approval for PT Gerbang Multi Sejahtera (PT GMS) due to allegations of illegal nickel ore sales in 2022 using "flying documents" from PT Wijaya Inti Nusantara (PT WIN). Executive Director Muhammad Ikbal Laribae characterized the suspected practice as a serious mining crime that causes state losses, calling for an immediate audit by the Directorate General of Minerals and Coal and warning of potential mass protests and reports to the KPK (Anti-Corruption Commission) if the government fails to take firm action against such illicit mining activities.
15 hours ago
[SMM Stainless Steel Flash] Indonesian Minister: Major Stainless Steel Smelter Skipped Mandatory Reports for 8 Years
15 hours ago
[SMM Stainless Steel Flash] Indonesian Minister: Major Stainless Steel Smelter Skipped Mandatory Reports for 8 Years
Read More
[SMM Stainless Steel Flash] Indonesian Minister: Major Stainless Steel Smelter Skipped Mandatory Reports for 8 Years
[SMM Stainless Steel Flash] Indonesian Minister: Major Stainless Steel Smelter Skipped Mandatory Reports for 8 Years
According to SMM, Indonesian Investment Minister Rosan Perkasa Roeslani revealed during a hearing with House Commission XII that a major stainless steel smelter in Indonesia, which has been commercially operational since 2017, has failed to submit its mandatory LKPM (Investment Activity Report) for 8 consecutive years. Implications: The LKPM is a legally required quarterly report covering investment realization, labor, production data, and partnerships. Due to this non-compliance, the Indonesian government admits it lacks official data on the smelter's actual investment realization, forcing regulators to rely solely on "incidental supervision" to gather information.
15 hours ago
[SMM Nickel Morning Review] Lunni stands above the 5 / 10 moving average to explore the first line of US $11500 / ton. - Shanghai Metals Market (SMM)