Chinese stainless steel production rose 26.8% to 8.8 Mt in 2009, according to the Stainless Steel Council of China. China’s apparent consumption of stainless steel increased by almost 32%, to 8.22 Mt. The near 0.6 Mt gap between production and consumption supports our view that stainless steel stockpiles in China are vast, and could dampen apparent demand for nickel in the near term.
In an interview N Prasad, Safetrade Advisors, speaks about various sectors and gives his outlook going forward
Q: Your earlier target for crude was USD 80/barrel, now since we have reached there, can we head for higher targets?
SELL LEAD FEB BELOW 104.80,TG-104.3,103.75,103.10, SL-105.55
Sell nickel below 936 tgt 912-897 s/l day high
sell crude below 3674 s/l 3706 tgt 3645-3609
BUY CRUDE 3730, SL 3710, TGT 3780
Nirmal Bang has come out with its report on commodity. The research firm expects precious metals to trade sideways to up during the day as we expect some recovery in Euro which may lead some downward pressure on dollar thus support precious metals prices.
Positive trends in stock markets
http://nandini-research-group.blogspot.com/
TODAYS MARKET CALLS
SELL USDINR @ 46.18 SL 46.28 TGT 46.12-46.02-46.97. MCXSX
NANDINI RESEARCH
Email : nandini.research@yahoo.com
http://nandini-research-group.blogspot.com/
http://nandini-research-group.blogspot
http://nandini-research-group.blogspot.com/
MCX-TODAY TREND, SUPPORT & RESISTANCE (23RD FEB 2010)
One of the world’s most notoriously bearish financiers has urged commodity market players to Invest in Gold.
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