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SHMET Spot Market Briefing 20100712-Nickel

Shanghai Spot Metal Quote (SHMET) More
Jul 12 2010
Metals Price(RMB/T) Change b/c
Copper 53900-54200 0 b 50/b 150
Aluminum 14660-14700 0 c 50/c 10
Lead 14800-15000 +100  
1#Zinc 15100-15200 +100 c 185/c 85
0#Zinc 15150-15250 +100 c 135/c 35
Tin 138000-139500 0  
Nickel 154500-155500 +500  

Report by SHMET

China’s spot nickel is quoted between RMB 154500 and 155500 per tonne, up RMB 500. Although the overall mental market is in a stronger tone, LME Nickel showed sluggish and the purchasing sentiment in the domestic market was weaker. Jinchuan nickel is quoted at RMB 156000 per tonne, while Russia nickel is quoted about RMB 154000 per tonne.

“ Domestic market didn’t get great boost from small gains on the LME. If Jinchuan Group didn’t rise its producer’s price, the nickel price would not be higher. The buying enthusiasm was poor. Since we thought that nickel would drop further in the following days, we preferred to short-term investion. We sold 6 tonnages of Jinchuan product at RMB 155500 per tonne. There was no Russia nickel completed in the AM session. ” A trader said to SHMET.

“ The market was in a mixed tone. Some traders offered Jinchuan nickel at RMB 15500 per tonne with fragile volumes, while the ideal price of buyers was below RMB 155000 per tonne. The transacting price was not firm. We would like to sell cargoes at RMB 155300 per tonne if the volumes were larger. ” Another trader said to SHMET.


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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.

Shanghai Precious Metals Quote(SHMET) More
Jul 12 2010
Metals Price Change Units
1#Silver 4185-4195 +15 RMB/KG
2#Silver 4175-4185 +15 RMB/KG
3#Silver 4165-4175 +15 RMB/KG
Gold 263.42-263.5 +2.24 RMB/G
Platinum 350-353 +2 RMB/G
Palladium 112.5-114.5 +2.5 RMB/G