[summary of SMM Morning meeting] Nickel pig iron market stable price light operation nickel spot transaction is still weak

Nickel price judgment: there is a shock near the Shanghai Nickel 100,000 mark, but the spot situation is not optimistic. Weak consumption and the willingness to ship will enhance the spot market, which shows that in the pattern of other contradictions in the industrial chain is relatively not obvious, in the short term, unfavorable consumption gradually occupies the upper hand in the dominant market factors. Stainless steel, nickel iron, although profits are still further compressed space, but the overall stability. Expected to maintain a range shock, Shanghai Nickel 98500 muri 103000 yuan / ton, Lunni 11800Mel 12500 US dollars / ton.

1. May 27th SMM1 Electrolytic Nickel quotation 100200 RMB101700 / ton. After the opening of trading today, Shanghai Nickel gradually fluctuated downwards, falling below 100000 before the close of trading in the morning, and continued to weaken in the afternoon. In the spot market, the overall discount is stable compared with yesterday, but there is a significant increase in the price of low-priced goods. Although the trading price fell, spot trading was not as good as yesterday due to weak demand. Russo Nickel quoted a discount of 150,200 yuan / ton for the Shanghai Nickel 2007 contract, and traders in the early market were more willing to make a positive offer, while the rising price of the market was overquoted at 200yuan / ton, but the downstream demand was weak and there was only zero deal, and the nickel price still did not improve after the drop in the afternoon. Jinchuan nickel, most traders quoted 2007 contracts up 1200 yuan / ton, but at present supply and demand is both weak, trading volume is also less than yesterday. Today, the ex-factory price is 101300 yuan / ton, a reduction of 400 yuan / ton, which is about 1000 yuan / ton higher than the market price. Traders can only receive goods in Gansu area. The Nickel Bean discount also remained unchanged, and the Shanghai Nickel 2007 contract was quoted at 1100 won 1000 yuan / ton.

2. On May 27th, the ex-factory price of SMM high nickel pig iron is 970tel 990 yuan / ton (including factory tax). 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, in addition, the nickel price is stable, and the nickel iron discount compared with pure nickel basically remains in the 20tel 30 yuan / nickel point range. The price of Indonesian iron is basically flat compared with that of the domestic iron market.

3, May 26, Wuxi spot quotation of stainless steel is generally stable, in which Hongwang resources have individual traders slightly reduced, 304amp 2B rough edge coil price range 13500lb 13700 yuan / ton, the average price slightly reduced 50 yuan / ton; 304 NO.1 quoted 13150Lue 13250 yuan / ton; 304amp 2B factory volume price 1390014100 yuan / ton, the price is stable. According to market understanding, Qingshan Series Steel Plant has quoted a narrowband price in August, which is the same as that in July, at 12600 yuan / ton. In the past two days, the spot price of stainless steel in Wuxi is stable and weak. near the end of the month, some merchants give a small profit to the goods, but the deal is general. For 10:30 SHFE SS2007 contract price 13275 yuan / ton, Wuxi stainless steel spot water 425mur625 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)