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Gold dust for Bread
News - 10 Nov 10
Since the middle of October nickel prices on the London Metal Exchange (LME) maintained a level of over 24,000.00 USD/mt for the three months future price. This was until the end of the month when a correction brought prices down to USD 22,800.00/mt, although this was likely to have been led by a technical move sparked by a stronger US-Dollar rate.
3000 Bulls in one room
News - 14 Oct 10
Returning fresh from the LME week, the traditional gathering organised by the London Metal Exchange (LME) for all those interested in industrial metals, it might be of interest to make an unfiltered report of the impressions made while there. The atmosphere during the week can be described as being quite optimistic and relaxed, especially in comparison to that of the previous two years.
Stainless steel scrap is top in 2010
News - 22 Sep 10
After the LME 3 months nickel price had been trading around the USD 21,000.00/mt level towards the end of last month, quotations over USD 23,000.00/mt were seen in September, a level which had not been reached since April. This reflects the basic strength of the commodity market in general, as well as a continuing, and increasing, investor interest. Fundamentally there prevails a mixed picture.
Getting on the band wagon
News - 25 Aug 10
The following example shows how difficult it is to judge developments on the nickel market at the moment. On the 18th August 2010 the news agency Bloomberg released two reports taken from research of leading commodity banks. One had the title of “In the 4th quarter nickel can increase by 14% since demand is rising” (Société Générale), the other had the headline “Due to weak demand for stainless steel [up to year end] nickel can fall by 23%” (UBS).
New tasks for Paul the octopus
News - 23 Jul 10
In the last few weeks the nickel market has been moving along aimlessly without showing any great signs of life. It would have therefore been quite nice if the “octopus oracle”, Paul from Oberhausen, who played such an unfailing part during the football World Cup in South Africa, could also make accurate predictions about the nickel market. Looking at the fundamentals, it can only really be reported that the marked decline of commodity demand in the stainless steel works can most probably be attributed to the usual seasonal reductions and not necessarily to a double dip scenario.
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