Home » Posts tagged 'shanghai futures'

Tag Archives: shanghai futures

Is Nickel Really a Screaming Buy ?

Nickel has, according to some, the strongest market fundamentals of all industrial metals, yet prices remain near  multi year lows, despite the fact that a year ago, major producer Indonesia, which provided the world with a fifth of its nickel, imposed a ban on exports.

The argument for a rebound is that after many years of growing stocks, which kept a lid on prices, June saw a turning point . Nickel is already becoming scarce in China. The Shanghai futures market has had to accept Norilsks metal, for delivery against contracts. China’s imports of refined nickel surged by 67% in June over the May figure and by 250% year on year. Chinese nickel stocks have now slumped to a 4 year low and have reached critical levels. The growing shortages in the worlds largest user of nickel, it is argued, are bound to lead to price rises.

In the background however there is still Indonesia and some speculation that it may begin to ease export restrictions, as it has already done with copper.

Looking for luxury villas and houses for sale in Greece -click here; http://www.hiddengreece.net



Mayhem Amongst The Miners As Iron & Steel Prices collapse

Steel prices on the Shanghai futures index fell 5% in a single session yesterday, leading to a further 3.9% fall in iron ore prices. A knock on effect was felt on the worlds stock markets as mining shares followed suit and billions were knocked off the value of the four big majors, with more still to come. Vale was down by 4.5%, BHP by 4% and Rio Tinto by 2.2%. Australia’s Fortescue Metals was worst hit with a fall of 5.8%, making a total drop for the year so far of 40%.

As ever the Chinese are to blame, as their economy refuses to allow itself to be kick started.

Sign of the times perhaps that these are markets where US consumption appears to have become irrelevant.

Looking for luxury villas and houses for sale in Greece -click here; http://www.hiddengreece.net

I would like to receive Brand Communications updates and news...
Free Stock Updates & News
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.