News item
22 Apr 08
No power, no chrome
Nickel prices, along with other metals on the London Metal Exchange are not showing a lot of momentum at the present. If at all, copper could be described as the pacemaker. In this month a correlation could be seen to the USD / Euro exchange rate. With a weaker dollar come increased metal prices, a firmer dollar, falling metal prices. It is generally accepted that a break through the resistance of USD 1.60 to the Euro would possibly give the metal price development new impulses. On the whole, however, no new developments or directions can be fundamentally determined. Stainless steel production seems to be running moderately satisfactorily, and the same can be applied to the demand for stainless steel. The trade reduction in stocks seem to be ending, and consumption even seems to be creating new production, albeit that a long term constant high level of orders does not seem to be on the cards.
LME (London Metal Exchange)
| LME Official Close (3 Monate) | ||||
| April 22, 2008 |
||||
| Nickel (Ni) | Copper (Cu) | Aluminium (Al) | ||
| Official Close 3 Mon.Ask |
28.675,00 USD/mt |
8.650,00 USD/mt |
3.052,00 USD/mt |
|
| LME stocks in mt | ||||
| March 25, 2008 |
April 22, 2008 |
Delta in mt | Delta in % | |
| Nickel (Ni) | 47.622 | 52.308 | + 4.686 |
+ 9,84% |
| Copper (Cu) | 120.175 | 113.725 | - 6.450 | - 5,37% |
| Aluminium (Al) | 1.035.350 | 1.026.975 | - 8.375 | - 0,81% |