News
Current location: Home - News
Macro Boost Nickel Prices To The Upside, The Follow-Up Need To Pay Attention To The Fed's Interest Rate Decision
2023-7-14
The U.S. Department of Labor announced that the annual rate of CPI in June fell from 4% in June to 3%, lower than the expected value of 3.1%, the reaction to the current U.S. inflation has eased, the market from the pessimistic expectations of the U.S. for two consecutive interest rate hikes to the year to raise interest rates by only 25 benchmark points.
Positive macro sentiment affects the collective strength of commodities.
Fundamentally, the upper reaches down the Jinchuan nickel plate ascending water, but by the disc rose, the spot absolute price compared to yesterday continued to rise, so the downstream demand has a certain reduction in the overall market turnover compared to yesterday's weakening.
In summary, the current macro news frequently, the basic face of nickel price support is limited, is expected to follow the nickel price or will show a shock trend. Follow-up need to pay attention to the Federal Reserve on July 27 at 2:00 am Fed interest rate decision.
July 13, Jinchuan ascending water reported 9,750-10,000 yuan / tonne, the average price of 9,750 yuan / tonne, the price of 1650 yuan / tonne down from the previous trading day. Russian nickel uplift was quoted at 2,300-2,500 yuan per tonne, average price 2,400 yuan per tonne, down 150 yuan per tonne from the previous trading day. Today's morning disc oscillated upward. According to research, by last night's U.S. June unquartered CPI annual rate exceeded expectations back down to 3% impact, non-ferrous plate collective upward.
Affected by the plate pulling up, even if traders downward adjustment of the ascending water, today's spot absolute price is still at a high level, so today's downstream purchasing willingness is lower, the morning market transaction atmosphere is weaker. nickel briquette price 168500-169000 yuan / tonne, compared with the previous trading day the spot price up 3300 yuan / tonne, nickel briquette price is higher than the Nickel sulphate continued to invert, spot transactions were weak.
Positive macro sentiment affects the collective strength of commodities.
Fundamentally, the upper reaches down the Jinchuan nickel plate ascending water, but by the disc rose, the spot absolute price compared to yesterday continued to rise, so the downstream demand has a certain reduction in the overall market turnover compared to yesterday's weakening.
In summary, the current macro news frequently, the basic face of nickel price support is limited, is expected to follow the nickel price or will show a shock trend. Follow-up need to pay attention to the Federal Reserve on July 27 at 2:00 am Fed interest rate decision.
July 13, Jinchuan ascending water reported 9,750-10,000 yuan / tonne, the average price of 9,750 yuan / tonne, the price of 1650 yuan / tonne down from the previous trading day. Russian nickel uplift was quoted at 2,300-2,500 yuan per tonne, average price 2,400 yuan per tonne, down 150 yuan per tonne from the previous trading day. Today's morning disc oscillated upward. According to research, by last night's U.S. June unquartered CPI annual rate exceeded expectations back down to 3% impact, non-ferrous plate collective upward.
Affected by the plate pulling up, even if traders downward adjustment of the ascending water, today's spot absolute price is still at a high level, so today's downstream purchasing willingness is lower, the morning market transaction atmosphere is weaker. nickel briquette price 168500-169000 yuan / tonne, compared with the previous trading day the spot price up 3300 yuan / tonne, nickel briquette price is higher than the Nickel sulphate continued to invert, spot transactions were weak.
WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free!
