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Home / Metal News / SMM Nickel Market Morning Comment (Apr 3)

SMM Nickel Market Morning Comment (Apr 3)

Apr 3, 2024 09:49

Source:SMM

Overnight, the most-traded SHFE nickel contract opened at 130,850 yuan/mt, and closed at 132,590 yuan/mt, up 990 yuan/mt.

Overnight, the most-traded SHFE nickel contract opened at 130,850 yuan/mt, and closed at 132,590 yuan/mt, up 990 yuan/mt. Trading volume rose by 27,498 lots to 253,352 lots, and open interest decreased by 5,634 lots to 102,183 lots. The most-traded SHFE nickel contract rebounded after a lower opening. After falling to the intraday low of 130,840 yuan/mt, it closed up 1.96%.

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Overnight, LME zinc prices opened at US$2,581/ton and reached a low of US$2,567/ton during the period. During the European trading session, LME zinc prices moved up and hit a high of US$2,605.5/ton, finally closing at US$2,587/ton, up US$0.5/ton, or 0.02%.

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Overnight, the most-traded SHFE 2403 aluminium contract opened at 18,745 yuan/mt, with high and low at 18,760 yuan/t and 18,665 yuan/mt before closing at 18,700 yuan/mt, down 65 yuan/mt or 0.35%.

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Weak real estate data hurts market confidence, SHFE zinc prices declined [SMM zinc morning comment]

LME zinc prices opened at $2548/mt last evening and closed down $86.5/mt or 3.39% at $2466.5/mt. Trading volume increased to 11397 lots, and open interest decreased by 1323 lots to 208,000 lots. LME zinc inventory dropped by 1600 mt or 0.77% to 205700 mt.

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Cost Support To Coke Prices Weakens

Low-sulfur coking coal in Lvliang, Shanxi was quoted at 2,300 yuan/mt, while the quotation was 2,250 yuan/mt in Linfen and 2,100 yuan/mt in Tangshan.

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Affected by the sharp drop in futures prices, steel mills in the Tangshan area lowered their purchase prices of iron ore concentrate by 20-25 yuan/mt.

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Iron ore price in Tangshan still under downward pressure

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The most-traded SHFE 2303 zinc contract fell after opening lower at $2514.5mt, and finally closed at $2481/mt, down $31/mt or 1.23%. Trading volume

Oct 11, 2023 09:53

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SMM Zinc Morning Comment

Overnight, LME zinc prices opened at $2537/mt and closed down $50/mt or 1.97% at $2489/mt.

Sep 20, 2023 10:27

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Overnight, the most-traded SHFE 2310 aluminum contract opened at 19,325 yuan/mt and went down before closing at 19,160 yuan/mt, down 75 yuan/mt or 0.39% compared with the previous trading day.

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SMM Morning Comment For Aluminium Market On September 20

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SMM Nickel Market Morning Comment (Apr 3)

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