Today's nickel market (7.10) fundamentals continue to be flat and nickel bulls attack to drive Shanghai nickel higher

[July 10 SMM nickel product price]

Spot: [nickel spot transaction] SMM 1 # electrolytic nickel 101900 to 103900 yuan / ton. The discount of Russian nickel is about 400 yuan / ton compared with Shanghai nickel 1908. Jinchuan nickel than Shanghai nickel 1908 contract generally quoted water 1400 to 1500 yuan / ton, a few higher quotations are basically non-market. Early trading hours, prices rose sharply, as high as 103000 yuan / ton, higher than yesterday, spot transactions are unusually light, downstream due to higher prices in wait-and-see, Jinchuan nickel water than yesterday, buyer's market. In the second trading period, the price was stable at 102000 yuan / ton, and the spot was still not ideal. The ex-factory price of Jinchuan Company was 103500, 2500 yuan / ton higher than yesterday, and the mainstream transaction was 101900-103800 yuan / ton.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 103500 yuan / ton, barreled small pieces 104700 yuan / ton, up 2500 yuan / ton from yesterday.

Stainless steel, waste stainless steel

[SMM stainless steel plant guide price] Wuxi stainless steel plant guide price cold hot rolling general leveling details can be found at: https://news.smm.cn/news/100947951

[SMM stainless steel plant guide price] Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guide price https://news.smm.cn/news/100947904

[Qingshan Agent quotation] on the morning of July 10, Qingshan Agent made the first offer: 304Dingxin hot rolled narrow strip with a tax price of 13500 yuan / ton, and hot rolled plate with a tax price of 13700 yuan / ton. The above prices are up 200 yuan per ton from July 8, subject to approval.

Inventory

According to the SMM survey, total nickel stocks in Shanghai, including the previous warehouse receipt stocks, rose 747 tons, or 1.1 per cent, from last week to 69000 tons. The specific changes are as follows: stocks in East China increased by 1600 tons to 33500 tons compared with last week, while stocks in the Shanghai Free Trade Zone (including Shanghai Tianwei, Capital Management Hall, facing Port, Jiekai and Henry Bath) refined nickel stocks decreased by 900 tons to 15000 tons compared with last week.

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