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SHMET Spot Market Briefing 20100702-Nickel

Shanghai Spot Metal Quote (SHMET) More
Jul 02 2010
Metals Price(RMB/T) Change b/c
Copper 52200-52550 0 b 150/b 250
Aluminum 14510-14550 +50 c 20/b 20
Lead 14500-14700 -100  
1#Zinc 14550-14650 +100 c 195/c 95
0#Zinc 14600-14700 +100 c 145/c 45
Tin 137500-139500 -500  
Nickel 151500-152500 -1500  

 

Nickel
China’s spot nickel is quoted between RMB 151500 and 152500 per tonne, dropping RMB 1500. Fueled by hiking LME Nickel, the volumes of Jinchuan nickel were higher than yesterday’s in the AM session. Early Jinchuan products were quoted at RMB 152500 per tonne, quoting at RMB 153000 per tonne later. Russia nickel was quoted at RMB 151500 per tonne with moderate transaction.

“ The transaction of Jinchuan nickel showed more active. We sold 20 tonnages at RMB 152500 per tonne early, while 10 tonnages cargoes were completed at RMB 153000 per tonne. Russia nickel was quoted at RMB 151500 per tonne, but no large volumes were emerging. ” A trader said to SHMET.

“ We get less enquires about Russia nickel in AM session. Jinchuan nickel was completed at RMB 153000 per tonne. We didn’t sell cargoes at RMB 152500 per tonne. We sold more than 10 tonnages with smooth transaction. ” Another trader said to SHMET.


More analysis please visit at http://en.shmet.com

SHMET History Data for the metal (from2001 to 2010) please visit at http://en.shmet.com/Data/Data.aspx?metal=8&year=2010

The Most authoritative non-ferrous metals index in China—SHMETX please check: http://en.shmet.com/PriceIndex/Shmetx.aspx

Shanghai Metal Price Index, “SHMETX” for short, reflects non-ferrous metals’ spot prices of Shanghai comprehensively, compiled and published by Shanghai Metals Exchange (“SHMET”). Its characteristics are objective, high-efficiency, professional, authoritative, etc. The average prices of sampling varieties can be the standard of quoting prices and reference inside and outside the industry.