The trend of SMM Nickel Market on May 28th
Nickel ore, nickel pig iron
Nickel spot: SMM May 28th: today's SMM1 Electrolytic Nickel quotation 100300Mel 101700 yuan / ton. Shanghai Nickel fell last night and returned to more than 100,000 yuan after the opening of trading this morning. Trading in the spot market was light in the morning. According to traders, the poor trading atmosphere was not due to price reasons, but more because of weak downstream demand. In terms of discount, Russo Nickel's contract with Shanghai Nickel 2007 is quoted at 250fu 150 yuan / ton, and the inquiry situation is not as good as yesterday, so the shipment volume from low-price sources in the market is also not ideal. Jinchuan Nickel to Shanghai Nickel 2007 contract rose 1100murl 1200 yuan / ton, held firm during the week. Jinchuan ex-factory price is the same as the previous trading day, still at 101300 yuan / ton. Nickel beans to Shanghai Nickel 2007 contract quoted price 1100mur1000 yuan / ton.
[ex-factory price of Jinchuan Company] SMM May 28: Jinchuan Electrolytic Nickel (big board) quoted price of 101300 yuan / ton in Shanghai, 102500 yuan / ton in barreled small pieces, and 100850 / ton in Jinchang, which was the same as yesterday.
SMM May 27th: today's SMM high nickel pig iron ex-factory price is 970mur990 yuan / ton (including factory tax). Today, it is reported in the market that the purchase price of high nickel pig iron from a stainless steel factory in North China includes tax, and the purchase volume is 10,000 tons. This price may be negotiated last week. The recent high nickel pig iron market transaction is light, the price fluctuation range is small, and the nickel price is stable. The nickel iron than pure nickel discount basically maintained at 2030 yuan / nickel point range. The price of Indonesian iron is basically flat compared with that of the domestic iron market.
Stainless steel
[Wuxi stainless steel afternoon review] SMM May 28th: today, the spot quotation of stainless steel in Wuxi area has been lowered again, the quotation range of 304Comp2B rough edge curling price is 13400Mel 13600 yuan / ton, the average price is reduced by 50 yuan / ton; 304 / NO.1 is quoted at 12950Mel 13150 yuan / ton, the average price is reduced by 100 yuan / ton. According to the survey, recently, the downstream demand is weak, the transaction is weak, and the price reduction stimulates taking the goods. Some traders said that March was the recent peak of trading, and the trading volume in May was generally lower than that in April, and due to the weak attitude towards late demand in the seasonal off-season, it is expected that there will be a big improvement in subsequent transactions. For 10:30 SHFE SS2007 contract price 13110 yuan / ton, Wuxi stainless steel spot water 460mur660 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)
[Foshan stainless steel afternoon review] SMM May 28: at the end of the month, the overall steel prices of 300 series cold and hot rolling are mostly callback shipments. Under the light demand and weak support, the sound of merchants' rising prices has obviously decreased, and the wait-and-see mood of some terminals has increased. Flexible delivery at the end of the month is the main reason, so steel prices are expected to fall back in the short term. In terms of quotation for various series of steel in Foshan area, the state-owned 304xx2b trimming coil price was steadily quoted at 14,100 yuan / ton compared with yesterday's average price, private 304max 2B rough edge roll was 50 yuan / ton lower than yesterday's average price at 13250 NO. 13550 yuan / ton, 304 / NO. 1 five-foot quotation was slightly lower than yesterday's average price at 12950ly13150 yuan / tonne, to 10:30 SHFE SS2007 contract selling price 13110 yuan / ton, Foshan stainless steel spot water 310 pieces 610 yuan / ton, the price was slightly lower than yesterday's average price at 12950MB 13150 yuan / ton, and the selling price of Foshan stainless steel spot water was 310 yuan / ton. (spot trimming = rough edge + 170).
[SMM Steel Plant guidance Price] SMM May 28: the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. is 100 yuan / ton lower than that of yesterday.
The inventory of pure nickel in SMM bonded area decreased by 1500 tons compared with last week.
[SMM pure nickel social inventory increased by 1072 tons to 39028 tons compared with last Friday] according to SMM, as of Friday, the inventory of the previous period fell 688 tons to 26799 tons from last week, all of which came from Shanghai delivery depots. Hidden inventory in East China increased by 1793 tons to 11622 tons compared with last week, of which the inventory of nickel beans increased by 500 tons to 2200 tons. It is reported that the amount of nickel in and out of the spot warehouse is relatively large, with about 2-3 kilotons of Russian nickel in storage. Guangdong Southern Reserve stocks, mostly electroplating grade nickel, fell from 640 tons to 607 tons this week. To sum up, while the inventory in the bonded area decreased, the domestic social inventory increased by 1072 tons to 39028 tons.
Nickel Research Group of Nonferrous Metals Department
Liu Yuqiao: + 86 Murray 21 Mutual 51666804 / liuyuqiao@smm.cn
Li Chuntian: + 86 Murray 21 Murray 51666817 / springli@smm.cn
Zhang Lingying: + 86 Murray 21 Mutual 51666901 / zhanglingying@smm.cn
Zhao Ming: + 86 Mui 21Mui 516666780 / tylerzhao@smm.cn
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