[2020.5.8 minutes of Nickel Internal Morning meeting] High Nickel Pig Iron Trading Center is strong, Nickel spot Market is afraid to wait and see

Nickel price judgment: raw material price support superimposed stainless steel factory active price, stainless steel price remains strong, and the current acceptance of downstream is still OK, the transaction is relatively active, so if stainless steel maintains a good market, its purchase and consumption of nickel will also be at a relatively ideal level, this just need to be relatively difficult to be broken, so although the current macro environment is still difficult to support a sharp rise in prices, nickel prices still have a tendency to increase in the short term. It is estimated that Shanghai Nickel 100000103000 yuan / ton today.

1. May 7th SMM1 Electrolytic Nickel offer 101400-103000 yuan / ton. Among them, Russian nickel spot Shanghai nickel 2006 contract to post 50 yuan / ton to flat water, the market has a small amount of non-deliverable nickel plate application 100 yuan / ton, and Jinchuan nickel due to the low price outflow the day before yesterday, the Shanghai nickel 2006 contract rose to 1200-1300 yuan / ton. Shanghai nickel high shock, downstream fear of high wait-and-see, the inquiry is obviously not as good as the day before yesterday, the transaction situation is light. Some merchants in the market think that lowering the price discount will not improve the transaction, so the willingness to reduce the price is lower, and the spot discount is almost unchanged within the day.

2. On May 7, the price of SMM high nickel pig iron was 950-960 yuan / nickel point (including tax), which was the same as that of the previous trading day. The market is still quoted by mainstream steel mills, the iron mill quotation psychology is strong, it is expected that the short-term nickel iron prices will maintain high operation, with the nickel ore prices rebounding, nickel iron prices may continue to rise space.

On the morning of May 8, according to the latest news, South China stainless Steel Factory purchased high-nickel pig iron, which was converted to the factory price of about 987 yuan / nickel point after including freight, with an purchase volume of more than 10,000 tons. In addition, recently, the inquiry price of East extra High Nickel Iron is 965 RMB970 per nickel (including tax to the factory), which is basically the same as that of the previous round of procurement.

3, stainless steel contract prices and June steel factory prices are rising, May 7 Wuxi 300 series stainless steel prices generally increased, most traders on Wednesday afternoon have been price adjustment, 304thumb 2B rough edge curling price range of 13300mur13400 yuan / ton, the average price is 250 yuan / ton higher than Wednesday; 304 NO.1 13000Mel 13100 yuan / ton. The average price will be increased by 300 yuan per ton. According to market understanding, after Wednesday's price hike, the transaction atmosphere is active, receives the order hot. On the one hand, because some downstream enterprises are in the state of net inventory consumption during the holiday period, there is now part of the procurement demand; on the other hand, the price increase, for the downstream buy up and not buy down the mood, the purchase is positive, therefore, the transaction is good.