Rus News Journal

The prices of the world markets of metals

Nickel has spoilt all game at a stock exchange

Sharp falling of the world prices for nickel, an event in the beginning of this month (see from August, 13th and a material on the same page), has led to change of all picture in the market.
the prices for the nickel, drawn attention of players to fall to the market of nonferrous metals, have definitely provoked active speculation for the fall of one more market hit - copper. The prices for it became a victim of the renewed gamble by forward contracts in which centre again there were Chinese dealers. Thus, unlike previous Chinese falls of forward contracts on copper, nowadays at players on increase practically are not present chances of new growth of quotations in the foreseeable future. Any attempts of players on increase to impose to the market the game encounter nowadays not only resistance bears - Speculators, but also on growth of stocks of metal in warehouses LME.
However, players on increase as it has appeared, too did not remain in naklade. The matter is that the shown speculative interest to copper and nickel has for a while forced players to forget on fall about aluminium existence. It also have used bulls on London Metal Exchange. Having reconciled that copper and nickel - metals not about them players on increase have begun rather active buying up of forward contracts on aluminium that has coincided with the period of some rise in prices for cash metal. Such pleasant for bulls coincidence also became solving on the past week. After primary increase, for the reasons of the price of cash aluminium independent from each other and forward contracts on steel metal vzaimodopolnjat each other. It is curious thus that the leader all - taki there were cash prices: At substantial increase of the prices for cash metal and forward contracts with short term of repayment, long forward contracts raise where more slowly.

PHILLIP - KRIGSHTAL