Thursday, 23 April 2015

Metals Insight Report By Marketmagnify

Aluminum slipped in the negative zone yesterday, declining by around 0.55% and settled at $1806 MT from its previous close. On the fundamental note, the cancelled warrants for the metal declined massively by 51,700 MT indicating the lack of immediate demand for the metal whereas the backwardation for the metal at LME declined to $14.5 MT, a relief for the financiers, giving mixed cues for the metal.

Nickel closed flat yesterday at $12675 MT as the updates from INSG showed that it expected the global demand for the metal to rise to 1.94 Mln MT compared to 1.87 million in 2014 whereas the global output is expected to shrink down to 1.96 Mln MT in 2015 versus 1.99 million in 2014.

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