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Original title: Yangtze River Non-Ferrous Metals: Low Demand for Stainless Steel, Nickel Prices May Fall by 3
Yangtze River non-ferrous metals: Low demand for stainless steel, nickel prices may drop by 3
Summary: The US stimulus law is still inconclusive. Nickel weakened overnight and closed 0.11% lower; supply of nickel ore is scarce, domestic ferronickel plants suffer severe losses, coupled with low demand for stainless steel, spot nickel may decrease today.
Nickel Futures: The US stimulus law is still inconclusive, triggering market concerns. Overnight the nickel-nickel trend fell, mainly from lows, and closed at $ 15,970, down $ 255 from the previous trading day, a drop of 1.57% and 9,317 lots were traded . A trading day increased 1,300 hands, holding 233,220 hands, an increase of 163 hands over the previous trading day;Shanghai NickelShockingly, Shanghai Nickel’s 2102 main month contract fell and the last close was 118810 down 1190, a 0.99% drop.
London Metal Exchange (LME) 2nd LME nickel stocks reported 241,842 tons, an increase of 360 tons from the previous trading day.
Changjiang Nickel Industry News: Today, Shanghai nickel futures opened further down the line. The opening price of the main month 2102 contract fell to 1150 at 118850 and the main nickel contract in Shanghai 2102 fell to 1460 at 118540 at 9:30 am. Today, Shanghai nickel has weakened and the market has been cautious; nickel; The supply of minerals is scarce, domestic ferronickel plants suffer severe losses, coupled with low demand for stainless steel, nickel prices remain high and fluctuate widely. Changjiang Nonferrous Metals Network www.ccmn.cn (indicate source for reprint)
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