Today's nickel market (6.12) after the price rebound pure nickel transaction light attention to the risk of extrusion

[June 12 SMM nickel product price]

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[June 12 SMM nickel market trends]

Electrolytic nickel

Spot: in the morning, Russian nickel than Wuxi 1906 level water to liter water 100 yuan / ton, Russian nickel rising water as a whole, but not due to the improvement of downstream transactions, mainly due to some traders expected to expand the back structure in the later period, so even if the spot market due to the rise in absolute prices and lead to bad transactions, but the holders are still very high water, low-priced goods are not easy to receive. Jinchuan nickel than Wuxi 1906 contract is generally reported to rise 900 to 1100 yuan / ton, Jinchuan company is mainly shipping recently. Jinchuan ex-factory price increased by 1500 yuan / ton compared with yesterday, the mainstream transaction at 98100-99000 yuan / ton.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 98800 yuan / ton, barreled small pieces 100000 yuan / ton, up 1500 yuan / ton from yesterday.

Early trading: nickel opened today at $11630 a tonne, before noon, Lennie was supported by the daily average concussion upward, to $11770 / ton first-line pressure. In the middle of the day, the nickel was arranged horizontally at $11770 a tonne. Or as days of torrential rains in Indonesia stirred market sentiment, the nickel rose sharply in the afternoon, rising $11915 per tonne, followed by first-line support of $11800 per tonne below, with a narrow range of concussion around $11850 per tonne and extending to the European session. At night, the nickel rose slightly, rising above the $12000 / tonne mark to $12025 / tonne, before falling, supported by the daily average, with a narrow range of centre of gravity around $11900 / tonne, closing at $11900 / tonne. Positions increased by 3200 to 249000, trading volume increased by 2800 to 11100, and inventories fell 18 tons to 163878 tons.

Overnight Shanghai nickel opened at 97430 yuan / ton, at the beginning of the day high 98410 yuan / ton shock fell back to 97700 yuan / ton line to get support. Subsequently, Shanghai nickel rose slightly, breaking through the daily average of 98000 yuan / ton line, during which the probe failed many times, supported by a small shock above the 98000 yuan / ton line. At night, Shanghai nickel fell below the daily average, bearing pressure of 98000 yuan / ton, below 97700 yuan / ton first-line support, interval concussion operation, closed at 97920 yuan / ton.

The dollar fell slightly yesterday as Mr Trump again attacked the Fed's interest rate policy and rising expectations of a rate cut. Nickel rose in both internal and external trading yesterday, with Shanghai nickel up 1.5 per cent and London nickel up nearly 2.4 per cent. Today should focus on the US non-quarterly CPI annual rate and CPI index; the United States EIA crude oil stocks, refined oil stocks and gasoline inventory movements in the week ended June 7. Today's price forecast is 11800 to 12000 US dollars / ton for nickel, 97000 to 99000 yuan / ton for Shanghai nickel, and 96500 to 98500 yuan / ton for spot prices.

Nickel pig iron, nickel ore

SMM June 11: June 11, Shanghai nickel rose sharply in the afternoon, from around 96500 yuan / ton to about 97500 yuan / ton, slightly down in the afternoon, but by the end of the day, Shanghai nickel closed at 97250 yuan / ton, up 1.01%.

SMM was the first to understand the actual impact of the flood on mines and nickel pig iron in Indonesia. According to the latest SMM research, the Indonesian flood has little impact on the transportation of mines, affecting only 3 to 4 ships (55000 wet tons / ship), which is about 5 per cent of the total amount of nickel imported from China each month. In terms of nickel pig iron, the nearby nickel pig iron plant said it had little impact on production and had a certain impact on incoming supplies, such as vegetables or grain. Stainless steel plant, according to SMM research, the rainstorm will not affect the local stainless steel plant production plan.

The torrential rain had a significant impact on market sentiment, as reflected in the surge at the start of the afternoon. In fact, nickel mines and nickel pig iron enterprises in the affected areas are bound to be affected to a certain extent, but the impact may not be directly reflected in the output, but may also be reflected in logistics, transportation, living materials and so on. However, given that the domestic smelters and steel mills of these two products also have sufficient stocks, the relatively small number of days affected is not expected to have a significant impact on the spot market, as to whether the impact will last in the long run, or whether torrential rains will accidentally damage important infrastructure needs further attention.

Stainless steel, waste stainless steel

SMM June 12: yesterday morning, Delong, Chengde and other stainless steel plants 304 hot rolling guidance price down 50 yuan / ton, the agents have also reduced their shipping prices. But SMM afternoon the latest research understanding, steel mill guidance prices back to the original level. Some people believe that in the afternoon, the rise in nickel prices may have a certain impact on the price correction. As of yesterday afternoon, Wuxi spot market, 304 NO.1 volume price quoted 13300 to 13400 yuan / ton, the actual transaction situation and yesterday compared with little change. Yesterday morning stainless steel mill cold rolling guidance price was the same as the day before yesterday, but according to SMM research, steel mill guidance price increased by 50 yuan / ton in the afternoon. Yesterday, Wuxi market, 304 2B volume price quoted 13800 13850 yuan / ton. Some agents said that although the price rose slightly, but the actual transaction is light.

[SMM release-guidance Price of stainless Steel Plant] Today, the cold rolling price of stainless steel plant in Wuxi area was quoted as flat hot rolling and adjusted by 50 yuan / ton.

For more information, please see https://news.smm.cn/news/100937043

[SMM release-stainless Steel Plant Guide Price] Weekly Price of some stainless Steel plants (6.11 to 6.17)

For more information, please see https://news.smm.cn/news/100936762

Weekly inventory statistics

[SMM pure nickel inventory statistics]

According to the SMM survey, the total amount of nickel stocks in Shanghai, including the previous warehouse receipt stocks, increased by 363 tons, or 0.6 per cent, from last week to 57200 tons. The specific changes are as follows: inventory in East China increased by 2200 tons to 26200 tons compared with last week, mainly due to good import profits in the near future. Bonded areas and long-term arrival goods have been declared to enter the mainland one after another. During the same period, the stocks of refined nickel in Shanghai Free Trade Zone (including Shanghai Tianwei, Ritzit, Lingang, Jiekai and Henry Bath) decreased by 3000 tons to 19900 tons compared with last week.

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[nickel Industry News focus]

A few days ago, the environmental impact report form of the construction project of 240000 sets of stainless steel brackets and 15000 pieces of stainless steel pliers produced by Huaihua Bess Mechanical and Electrical Technology Co., Ltd. was approved by the Xupu County people's Government and approved by the Xupu County people's Government. It is agreed that the company will implement the project in Hongyuan Industrial Park, industrial concentration area of Xupu County. The project has a total investment of 3 million yuan, renting the third floor of 11 buildings in Xupu County Industrial Park, Huaihua City, Hunan Province, covering an area of 920m2. With stainless steel as the main raw material, the project has an annual output of 240000 sets of stainless steel brackets and 15000 pieces of stainless steel pliers after cutting, polishing, chamfering, punching and welding. Huaihua Bess Mechanical and Electrical Technology Co., Ltd. was established in October 2017, engaged in mechanical and electrical equipment research and development, sales; stainless steel bracket (dental semi-finished products), stainless steel pliers (dental semi-finished products) production, sales; electronic instruments, hardware products sales.