[SMM Weekly report selected] Nickel Price falls, Nickel Raw material economy changes, High Nickel Pig Iron economy turns worse, Why is it difficult to fall?

"SMM Nickel Industry chain Weekly report" is released. SMM will select hot topics, prices, quotations or major changes in the industry chain and release information for your reference.

The following is an excerpt from the weekly report of the SMM nickel industry chain:

Financial markets suffered Black Monday, with the dollar index soaring to a six-week high, while the sharp fall in the price of crude oil triggered by a renewed increase in the number of novel coronavirus cases in the United States also affected the performance of major metals. In terms of fundamentals, the performance of nickel itself is OK. At present, the price of nickel ore is still strong, the willingness to concession of nickel pig iron is small, the price of stainless steel has been successfully stabilized, and the balance of electrolytic nickel industry chain has not changed obviously. however, the expectation of good performance of the industrial chain has not become the focus of market transactions in the near future, and market sentiment is more affected by macro aspects. Due to the weak performance of the dollar in the early period, the willingness to adjust in the market, traders are relatively short on commodities in mood, the current lack of bullish strength, the sharp fall at the beginning of the week also laid the tone of weak operation, mainly the recent low shock. It is estimated that before the National Day holiday, Shanghai nickel will be 111000-116000 yuan / ton, and next week Lunni will be 14200-14700 US dollars / ton.

It is difficult for the price of high nickel pig iron to rise greatly because the price of stainless steel has fallen, the profit margin has narrowed, the acceptance of the high price of raw materials has decreased, and with the correction of nickel price, the economy of nickel pig iron has deteriorated, and the economy of nickel beans is 600 yuan / ton higher than that of the disk at present. The economy has improved compared with the previous period, and some steel mills have increased their intention to purchase nickel beans. Recently, the economic advantages of waste stainless steel and hydrated nickel have also changed from negative to positive, and steel mills have increased their intention to purchase scrap stainless steel and hydrated nickel to replace part of the demand for high nickel pig iron. Coupled with the recent steel mills still have part of the inventory, the enthusiasm to buy goods is not high, the price of high nickel pig iron is difficult to rise.

"apply for free access to the SMM metal industry chain database

Catalogue of "SMM Nickel Industry chain Weekly report" in this issue

Main points of this issue's weekly report

Nickel Ore / Nickel Pig Iron: nickel Price drop Nickel Raw material economy Transformation Why is it difficult to decline the economy of High Nickel Pig Iron?

Stainless steel: stainless steel is stable this week and the follow-up trend is dominated by demand.

Electrolytic nickel: the price of nickel has fallen and the spot transaction has been improved. The atmosphere of stock preparation before the festival is better.

Nickel sulfate: the price of nickel sulfate is high, the price of nickel sulfate is high, and the economy of autolysis of nickel bean is improved.

Scan the QR code application report for free and join the SMM copper industry chain exchange group

[China Nickel Industry chain High-end report] China Nickel Industry chain monthly report includes macro interpretation, monthly nickel price review, interpretation of hot events in various sections of the nickel industry chain (nickel ore, electrolytic nickel, nickel pig iron, stainless steel, ferrochromium) and other hot events, future forecasts, and Synchronize releases monthly relevant enterprise operating rate and inventory survey data, covering the entire nickel industry chain.

[China Nickel Industry chain routine report] China Nickel Industry chain Weekly report includes macro interpretation, weekly review of nickel price, market trends of various sections of nickel industry chain (electrolytic nickel, nickel pig iron, stainless steel, ferrochromium), weekly social inventory, future forecast, comprehensive interpretation of the nickel market in the week.