SMM 12月27日讯:
Trump economic advisers called the work of Treasury Secretary Mnuchin and Federal Reserve Chairman Powell "safe," a situation that immediately improved previously panicked market sentiment. OPEC+ production cuts are about to begin to support oil prices in January, adding to the surge in US stocks, which violently pulled up more than 9 per cent, while the dollar closed up 0.1 per cent at 97.02.
Supply and demand details:
Grade I nickel substitute nickel pig iron end, high nickel pig iron production increased by 4.67 per cent to 38000 nickel tons in November compared with the previous month. According to SMM research, a large nickel pig iron plant in East China originally planned to expand NPI production capacity, the first 48000KVA ore furnace has begun to bake, and iron is expected to be released in January 2019. For the post-production, the factory said that it is not clear, need to see the operation of the first furnace, if it runs well, it will produce normally. In addition, the construction of another seven 48000KVA ore heaters has not yet been completed.
In terms of the price of nickel pig iron, the purchase price of a stainless steel plant in North China is 935-945 yuan / nickel point, including tax, which is 35 yuan / nickel point lower than that of last month. A stainless steel factory in the south this week cut its inquiry price to 935-945 yuan / nickel point, including tax.
On the mining side, the price of Indonesian 1.65%CIF in the Chinese market fell from US $44.75 / wet ton in mid-November to US $39 / wet ton yesterday, down US $5.75 / wet ton, meaning that the theoretical cost of NPI has moved down by US $575 / metal ton, but according to SMM research, Some factories have been prepared due to the early rainy season, and can not enjoy the cost dividend brought about by the decline in mining prices, which is mainly enjoyed by large-scale nickel pig iron in East China.
On the demand side, the final output of 3 series stainless steel samples in November was 1.17 million tons, 3.12 per cent lower than that in October. Stainless steel production in December, or due to the reduction of other steel mills in South China, will continue to decline to 1.1 million tons, a decrease of 6.27%. Due to weak exports of stainless steel and downstream products, steel mills are pessimistic about consumption from January to February. In addition, according to SMM research, some factories in the downstream alloy market say that environmental reasons have led to an explosive increase in demand for waste incinerators this year.
