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The market gives the doubters a telling-off
News - 12 Jun 09
Even if there are more and more positive reports about the economic crisis in the media, it cannot be assumed that the crisis is over for all economical sectors, and that after 2010 all will be as before. The fact that in the USA “only” 300,000 people have lost their job in the last month, as opposed to the previous 6 months when, month for month, 600,000 people became unemployed, does not really make for good news, even if this can be termed as a consolidation step.
Heads need to change
News - 15 May 09
The LME (London Metal Exchange) quote for the 3 months nickel future has seen further positive developments. After going through the top barrier of USD 11,300.00/mt of the previous trading range, rates quickly rose to just below the USD 13,000.00/mt level, to then correct back down to about halfway within the upward movement from USD 9,800.00/mt (a halfway retracement).
The return of a bad penny
News - 09 Apr 09
The bottoming out of nickel prices on the London Metal Exchange, first seen mid February 2009 was definitely confirmed throughout March and into April. The three months contract was dealt in a very narrow range of between USD 9,500.00/mt and USD 10,000.00/mt for over six weeks.
Electricity suppliers not acting in the brightest way
News - 13 Mar 09
Since mid February nickel has been in a trading range of USD 9,500.00/mt and USD 10,500.00/mt on the London Metal Exchange. This shows that the price development has calmed down a little and the downward pressure following on from 2008 has come to a standstill. Market observers are now talking of a bottoming out of prices. Movements within this present range have been, up to now, of a more spontaneous nature, especially influenced by the moves on the stock exchanges which are used as a barometer of the economic outlook. On the whole it can be seen that the markets’ impetus responds more to positive rather than negative news. For some time now the flood of bad news reports has become so excessive that, with just some really outstanding exceptions, they cannot be perceived in their entirety. This means that positive news is able to create clear price rises at the moment. This applies to the commodity markets as well as to share prices.
Self-interest does not mean for the common good
News - 16 Feb 09
The new German Economics minister, Karl-Theodor zu Guttenberg, is of the opinion that the German domestic economy will revive by this autumn at the latest. The minister is not alone in this opinion, for in the meantime there is a whole list of economists who expect a clear improvement of the economy in the second half of the year. Companies on the other hand are clearly quite sceptical, especially when reviewing the real-time figures of job cuts, reduced working hours and other radical moves.
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