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First Lumber. Then Tin. Now the Newest Squeeze Is in Nickel

(Bloomberg) -- Nickel rallied to the highest in more than a decade as dwindling exchange inventories leave traders bracing for a historic supply squeeze. In a sign that traders are...
First Lumber. Then Tin. Now the Newest Squeeze Is in Nickel © Reuters. First Lumber. Then Tin. Now the Newest Squeeze Is in Nickel

(Bloomberg) -- Nickel rallied to the highest in more than a decade as dwindling exchange inventories leave traders bracing for a historic supply squeeze.

In a sign that traders are scrambling for spot supplies, cash contracts traded at the widest premium to three-month futures since 2007 on the London Metal Exchange on Thursday. And with Shanghai Futures Exchange stockpiles near a record low, nickel’s tight supply dynamics have made it the star performer during a broad rally in base metals markets this month, with prices up 9.1%.

Nickel climbed as much as 3.4% to $22,935 a ton on Friday, at the highest since August 2011. Investor interest is growing amid booming use in electric-vehicle batteries, providing a further boost as metals rally on the back of deteriorating supply. Prices have also been supported after Indonesia said it’s considering a plan to impose an export tax on some nickel products.

Even for those who think the nickel market is overheating, the steep backwardation may discourage them from taking bearish bets, as they could be exposed to heavy losses when rolling contracts forward or buying them back.

“If you get a situation where there’s a scramble for supply, you could see some outsized price moves off the back of it,” Colin Hamilton, managing director for commodities research at BMO Capital Markets, said by phone from London. “From that point of view, it’s very difficult to advocate for anyone to take an aggressive short position.”

Zinc and aluminum production has also been hit hard during Europe’s energy crisis, and a fresh spike in regional power prices is bringing supply worries back to the fore across metals markets.

Investors are also parsing data released Friday that showed China’s record-breaking export strength continued into December, pushing the annual trade surplus to a new high. Still, trade growth is expected to be weaker in the new year as demand for work-from-home technology and healthcare equipment slows and consumption shifts toward services as the rest of the world starts to live with Covid.

Nickel was up 2.3% at $22,680 a ton as of 9:52 a.m. on the LME, while other metals traded little changed or slightly higher. Copper was steady at $9,951.50 a ton, after earlier this week closing at the highest since October.

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17-01-2022 11:35:41 (UTC+7)

EUR/USD

1.1405

-0.0009 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

EUR/USD

1.1405

-0.0009 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

GBP/USD

1.3653

-0.0020 (-0.15%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (5)

USD/JPY

114.58

+0.38 (+0.34%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (8)

AUD/USD

0.7211

+0.0006 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.2515

-0.0037 (-0.30%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/JPY

130.68

+0.33 (+0.25%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

1.0425

-0.0004 (-0.04%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (3)

Gold Futures

1,818.55

+2.05 (+0.11%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (5)

Sell (2)

Silver Futures

23.012

+0.094 (+0.41%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Copper Futures

4.4272

+0.0067 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

83.53

+0.23 (+0.28%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (9)

Brent Oil Futures

86.23

+0.17 (+0.20%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (1)

Sell (9)

Natural Gas Futures

4.308

+0.046 (+1.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

US Coffee C Futures

239.65

+2.65 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (3)

Euro Stoxx 50

4,303.75

+31.56 (+0.74%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,662.85

+3.82 (+0.08%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (2)

DAX

15,937.38

+54.14 (+0.34%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,611.78

+68.83 (+0.91%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (6)

Hang Seng

24,218.03

-165.29 (-0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,163.90

+2.42 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (6)

IBEX 35

8,840.38

+33.78 (+0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

BASF SE NA O.N.

68.200

+0.090 (+0.13%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Bayer AG NA

52.80

+0.21 (+0.40%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (3)

Allianz SE VNA O.N.

227.00

0.00 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (1)

Adidas AG

252.71

+0.36 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (0)

Deutsche Lufthansa AG

7.210

-0.031 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (11)

Siemens AG Class N

146.53

+0.67 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Deutsche Bank AG

12.020

+0.066 (+0.55%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (1)

 EUR/USD1.1405↑ Sell
 GBP/USD1.3653Neutral
 USD/JPY114.58Neutral
 AUD/USD0.7211Neutral
 USD/CAD1.2515↑ Sell
 EUR/JPY130.68↑ Sell
 EUR/CHF1.0425Neutral
 Gold1,818.55Neutral
 Silver23.012↑ Sell
 Copper4.4272↑ Buy
 Crude Oil WTI83.53Neutral
 Brent Oil86.23Neutral
 Natural Gas4.308↑ Buy
 US Coffee C239.65↑ Buy
 Euro Stoxx 504,303.75↑ Sell
 S&P 5004,662.85↑ Buy
 DAX15,937.38↑ Sell
 FTSE 1007,611.78↑ Sell
 Hang Seng24,218.03↑ Buy
 Small Cap 20002,163.90↑ Sell
 IBEX 358,840.38↑ Sell
 BASF68.200Neutral
 Bayer52.80↑ Buy
 Allianz227.00↑ Buy
 Adidas252.71↑ Buy
 Lufthansa7.210↑ Sell
 Siemens AG146.53Neutral
 Deutsche Bank AG12.020↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,120/ 6,160
(0/ 0) # 1,148
SJC HCM6,110/ 6,170
(10/ 0) # 1,158
SJC Hanoi6,110/ 6,172
(10/ 0) # 1,160
SJC Danang6,110/ 6,172
(10/ 0) # 1,160
SJC Nhatrang6,110/ 6,172
(10/ 0) # 1,160
SJC Cantho6,110/ 6,172
(10/ 0) # 1,160
Cập nhật 17-01-2022 11:35:44
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ↀ Giá vàng thế giới
$1,819.01+2.530.14%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$84.08-0.34-0.40%
Brent$86.23-0.49-0.56%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.540,0022.850,00
EUR25.234,8826.649,42
GBP30.246,4531.537,99
JPY192,66203,94
KRW16,5020,10
Cập nhật lúc 18:52:49 17/01/2022
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