SMM April 27 Shanghai Nickel spot Daily Review

SMM, 27 April:

Today, SMM1 Electrolytic Nickel quoted 101600-104200 yuan / ton, the average price increased by 1400 yuan / ton compared with last Friday. As a result of the previous Yunnan Province issued a policy to support enterprises to collect reserves, although nickel is not included in the collection, but macro sentiment has been boosted, bullish confidence increased, Shanghai nickel rose today. In the spot market, due to higher prices, downstream fear of high wait-and-see, light transactions. Among them, Russian nickel, Shanghai nickel 2006 contract reported to Pingshui, in the market due to the early reception costs, so the discount down space is limited, and the market low price supply is less, the circulation is not prosperous, it is reported that the price of 100 yuan / ton quoted a small number of transactions, flat water quoted shipment situation is not good, part of the import of Russian nickel in the late morning market 150 yuan / ton to reach a deal; in the afternoon market, trading gradually weakened. Jinchuan nickel, today Shanghai nickel 2006 contract reported 1200-1300 yuan / ton, more 1200 yuan / ton to reach a transaction, the total transaction volume is less; today Jinchuan ex-factory price of 104500 yuan / ton, a larger increase in water than the disk, at the same time, the recent manufacturers in Shanghai less goods, Jinchuan Shengshui is expected to be more difficult to fall back; at present, the supply of nickel No. 1 is tight, and some traders receive Jinchuan No. 2 nickel from Gansu today. Nickel beans, the Shanghai Nickel 2006 contract reported 700 yuan / ton, the transaction is relatively weak.

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