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Thematic address

[June 4 SMM nickel product price]

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[June 4 SMM nickel market trends]

Electrolytic nickel

Spot: in the morning, Russia nickel than Wuxi 1906 universal discount 100 to 50 yuan / ton, Jinchuan nickel than Wuxi 1906 contract generally reported water 800 yuan / ton. After the market price fell to around 96700 yuan / ton this morning, the market activity was higher than yesterday, and the feedback transaction from traders was improved compared with yesterday. The warehouse in the early stage of the lower reaches was thicker and lower. Now the absolute price is suitable, so we began to enter the market to purchase. 96700 yuan / ton market price transaction concentration, but the overall buying rhythm is cautious. Jinchuan rising water has slightly higher, mainly because this week Jinchuan supply is a little tighter than before. The mainstream transaction is 96600 to 97300 yuan / ton.

Early trading: nickel opened at $11995 a tonne today, or because of concerns about the overall macro situation, after touching $12030 a tonne at the start of the day, it fell all the way to get support at $11950 a tonne. In the afternoon, Lennie continued its decline in the afternoon and continued to fall into the European session. At night, nickel found support at $11900 a tonne and briefly rebounded before falling below the $11900 / tonne mark, with a narrow range of $11860 / tonne first-line support, closing at $11880 a tonne. The number of families was 10321, the position was 232000, and the inventory increased by 342 tons to 158946 tons. Shanghai nickel opened at 96940 yuan / ton overnight. At the beginning of the day, the center of gravity fluctuated within a narrow range above the daily average of 97000 yuan / ton, and then fell below the 97000 yuan / ton mark. Shanghai nickel rebound failed, won 96500 yuan / ton first-line support, the center of gravity around 96600 yuan / ton first-line narrow range fluctuations. At 96720 yuan per ton. Trading volume increased by 85500 to 369000, while position decreased by 900 to 184000. The dollar tumbled yesterday, falling as low as 97.103, its lowest level since May 13. The main reason is that speeches by dove officials from the Federal Reserve superimposed weak US economic data. In the evening, both the US Markit manufacturing PMI final value in May and the US ISM manufacturing index in May fell short of expectations, with ISM data being the weakest month in two and a half years. Nickel fell nearly 0.9 per cent and Shanghai nickel fell nearly 1.2 per cent. The eurozone should focus today on reconciling CPI parity data for May. It is expected that the amount of nickel is 11800 to 12000 US dollars per ton, the Shanghai nickel 96100 to 97000 US dollars / ton, and the spot price is 97000 to 98500 yuan / ton.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 97200 yuan / ton, barreled small pieces 98400 yuan / ton, down 500 yuan / ton compared with yesterday.

Nickel pig iron, nickel ore

[RNC Mining: production of the Dumont nickel-cobalt project will be increased to 50, 000 tons per year] SMM, June 3-RNC Mining released the positive results of the Dumont nickel-cobalt project on May 30 and updated the feasibility study. During the second phase of the expansion, the initial nickel production of 33 kilotons per year (ktpa), increased to 50 kilotons per year, producing about 1.2 million tons (2.6 billion pounds) of nickel concentrate, with a service life of more than 30 years and an initial capital expenditure of US $1 billion.

[southern a steel mill this week high nickel iron inquiry is flat] SMM June 3: according to SMM research, a southern steel mill this week high nickel iron inquiry price is 960 yuan / nickel point, to the plant including tax, the transaction price is the same as last week.

Chromium ore, high carbon ferrochromium

[chromium mine national port inventory increased by 3 per cent to 2.889 million tons compared with Friday] as of May 31, chromium mine national port inventory increased by 3 per cent to 2.889 million tons, of which Tianjin Port increased by 6 per cent to 1.83 million tons. Qinzhou Port reduced by 7 per cent to 512000 tons and Lianyungang increased by 12 per cent to 220000 tons.

Stainless steel, waste stainless steel

[stainless steel market trend is stable and weak] SMM June 3: the recent stainless steel spot market stable weak operation. Wuxi spot market, 304 2B (Taiyuan Iron and Steel, 2mm*1219mmm) quotation range 14050 14420 yuan / ton. Some agents said that although the current stainless steel market prices have not fluctuated significantly, but the market demand is weak, the transaction situation is not ideal.

Weekly inventory statistics

[SMM pure nickel inventory statistics]

Total nickel stocks in Shanghai, including the previous warehouse receipt stocks, rose 1440 tons, or 2.6 per cent, from last week to 56800 tons, according to a SMM survey. The specific changes are as follows: inventory in East China increased by 500 tons to 24000 tons compared with last week, mainly due to good recent import profits, and long-term goods coming to Hong Kong have been declared to enter the country one after another. Over the same period, the stocks of refined nickel in Shanghai Free Trade Zone (including Shanghai Tianwei, Capital Management Hall, adjacent Port, Jiekai and Henry Bath) increased slightly by 100 tons to 22900 tons compared with last week.

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[nickel Industry News focus]

The "100 billion Industrial Planning Symposium" of the Jinhui Industrial Group was held in Zhengzhou at 10:00 on June 2, and the "100 billion Industrial Planning Symposium" of the Jinhui Industrial Group was held in Zhengzhou. The meeting was presided over by Li Zhongxian, vice president of the Jinhui Industrial Group. Gu Jianquan, president of the Provincial Academy of Social Sciences, Wang Lingjie, director of the Provincial Academy of Social Sciences, Dr. Peng Junjie, Dr. Wang Yuanliang, director of the Provincial Academy of Social Sciences, President Li, Vice President of Jinhui Industry Group, Vice President Shang Caisheng and Zhang Yongcai attended the meeting. At the meeting, Li Zhongxian pointed out the importance of the "100 billion Industrial Plan" to Jinhui: as a leading enterprise in the national urban mineral demonstration base and Dazhou Park, Jinhui is currently at the key point of transformation and upgrading and industrial structure adjustment. There is an urgent need for high-quality development. Therefore, the "hundreds of billions of Industrial Planning" made by the Provincial Academy of Social Sciences for Jinhui Special Research Institute is of great significance to guide the development of Jinhui and enhance the strategic pattern of Jinhui development in an all-round way in order to achieve high-quality development.

SMM June 3: Gansu Jiuquan Iron and Steel Group Hongxing Iron and Steel Co., Ltd. issued an announcement on the change of chairman. Said that the board of directors of the company recently received the resignation report submitted by Mr. Cheng Zijian, chairman of the board of directors. Mr. Cheng Zijian applied to resign from the chairman, directors and special committees of the board of directors because of the adjustment of his duties. According to the articles of Association of the Company Law and the relevant provisions, the resignation of Mr. Cheng Zijian will not cause the members of the board of directors of the company to fall below the statutory minimum number, and the report of his resignation shall take effect from the date of service to the board of directors. After his resignation, he will no longer hold any position in the company. During his tenure as chairman, director and special committee of the board of directors, Mr. Cheng Zijian diligently and dutifully performed his duties and played an important role in the standardized operation and healthy development of the company. The board of directors of the company expresses its heartfelt thanks to Mr. Cheng Zijian for his hard work and contribution to the company during his tenure of office. In order to ensure the normal operation of the board of directors, the company held the 17th meeting of the sixth session of the board of directors on June 3, 2019, and considered and adopted the "proposal on electing Mr. Ruan Qiang as the new chairman of the sixth session of the board of directors." Mr. Ruan Qiang (attached to his resume) was elected chairman of the sixth session of the board of directors of the company, and at the same time assumed the relevant positions of Mr. Cheng Zijian in the special committees of the board of directors, his term of office coincided with the term of office of the sixth session of the board of directors of the company. As of the date of this announcement, neither Mr. Cheng Zijian nor Mr. Ruan Qiang holds shares in the company. According to the regulations of the articles of Association, the chairman of the board of directors is the legal representative of the company, and the company will complete the registration formalities of industrial and commercial change of the legal representative as soon as possible.

Introduction to the SMM nickel team:

Study on Liu Yuqiao 021 51666804 Ni Industry chain

Zhu Junhui 13917953839 Ni-Cr stainless Steel Industry report and Database

Gao Yin 021 51666865 nickel ore, nickel sulfate

Duan Chunjing 021 51666896 Electrolytic Ni

Wang Tong 021 51666855 stainless steel, ferrochromium

Wu Ruoyao 021 51595864 nickel pig iron

Li Chuntian 021 51666817 stainless Steel Regeneration Resources

SMM Ni-Cr stainless Steel official account