Stainless steel terminal conduction is not smooth, nickel pig iron steel mill procurement is relatively light [nickel pig iron daily review]

SMM, May 15, On May 15, the average price of SMM8-12% high-nickel pig iron was 968.5 yuan/nickel point (ex-factory tax included), which was the same as the previous working day. On the supply side, it will take time for Indonesia to approve nickel ore in May, the shortage of raw materials in Indonesian smelters has not improved, and the output of Indonesian nickel pig iron smelters is weak. Domestically, some smelters have resumed production after maintenance, but due to the impact of nickel pig iron production costs, the total amount of resumption of production is limited, and domestic smelters still maintain a low operating rate. On the demand side, the recent stainless steel market sentiment is slightly weak, the terminal digestion and transmission is not smooth, and the steel mills are expected to be weak, and the purchasing sentiment is wait-and-see. To sum up, under the background of tight circulating volume and cost support, it is expected that the price of ferronickel will be stable and strong in the short term.