|Shanghai Spot Metal Quote (SHMET)||More|
|Jun 04 2010|
|Copper||53200-53550||-550||b 200/b 350|
|Aluminum||14530-14570||-80||c 30/b 10|
|1#Zinc||14250-14350||-550||c 245/c 145|
|0#Zinc||14300-14400||-550||c 195/c 95|
China’s spot nickel is quoted between RMB 155000 and 157000 per tonne, dropping RMB 6000. Jinchuan Group adopts a silent attitude on slumping LME. Market participants reckoned that the extent would be larger if Jinchuan Group adjusted its prices again. However Jinchuan nickel seems to be lower in term of RMB 155000 per tonne offered by traders. The transaction showed active in the AM session and buying enthusiasm was stronger.
“ Market was in a mixed tone on the sharp dropping LME overnight. We had thought that it would be consolidate in the short term, whereas we didn’t expect that there even hadn’t any opportunity for market to take a breath. Due to Jinchuan Group not releasing any adjustment information on its web site, the trading is very active at the level of 155000 yuan.” A trader said to SHMET.
“ Jinchuan products were mainly quoted around RMB 155000 per tonne, with moderate volumes in the AM session. Since Jinchuan Group hadn’t lowered its prices, the purchasing sentiment showed active, completing around RMB 155000 per tonne. ” Another trader said to SHMET.
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SHMET History Data for Nickel (from2001 to 2010) please visit at http://en.shmet.com/Data/Data.aspx?metal=8&year=2010
Disclosure: no positions