Today's nickel market (6.5) stainless steel price fell steel mill loss expanded electrolytic nickel spot transaction slightly improved

[June 5 SMM nickel product price]

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[June 5 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 900 to 1000 yuan / ton. In the morning, some traders rose 800 yuan / ton trading part of Jinchuan nickel, but later basically raised Jinchuan Shengshui. This morning, the market price was consolidated around 9.63-96400 yuan / ton, and the market activity was slightly improved compared with yesterday. Traders reported that the inventory in the early downstream was lower, and now the absolute price is suitable, so they began to purchase goods in Jinchuan due to recent logistics reasons. The supply of goods in Shanghai is a little tight, and the rising water has picked up.

Early trading: Lenniya opened at US $11885 / tonne today, rising US $11925 / tonne at the beginning of the day and then fell back quickly. In the afternoon, Lennie pressure of $11890 / ton line, repeatedly failed to break through, below by $11850 / ton first-line support, the center of gravity fluctuated around $11870 / ton and continued to the European period. In the evening, the shock fell, after the bottom of $11790 / ton, received $11800 / ton first-line support, rebound and repair, under pressure of $11870 / ton line reversal fell, out of the inverted V character, closed at $11800 / ton. The trading volume was 8951, the position was 232000, and the inventory was reduced by 30 tons to 158916 tons. Overnight Shanghai nickel opened at 96620 yuan / ton, at the beginning of the day, the pressure daily average concussion fell, 96000 yuan / ton first-line support, rebound upward, touch high 96880 yuan / ton. Subsequently, the shock fell, down 95850 yuan / ton low, closing at 96090 yuan / ton. Trading volume increased by 185000 hands to 433000 hands, and position volume increased by 2100 hands to 180000 hands. At present, the position of Shanghai Ni 1908 contract is larger than that of Shanghai Ni 1907, and the main position contract has been replaced by Shanghai Ni 1908 contract. The dollar fell slightly yesterday as Powell hinted that interest rate cuts could lead to poor US economic data. Powell said the Fed will take appropriate measures to maintain sustained economic expansion and is paying close attention to the impact of trade negotiations and other events on the prospects of the US economy. The volume of new manufacturing orders in the US remained weak in April, suggesting that manufacturing activity could weaken the economy as a whole. Nickel futures fell in both internal and external trading yesterday, with nickel falling nearly 0.7 per cent and Shanghai nickel down 0.71 per cent. Today, we should focus on the change in ADP employment in the United States in May (10,000); the ISM non-manufacturing index in the United States in May; and the EIA crude oil inventory change in the week of May 31 in the United States (10,000 barrels). It is estimated that 11750 to 11900 US dollars per ton of nickel, 95500 to 97000 yuan / ton of Shanghai nickel, 96600 to 97500 yuan / ton of spot price.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 97200 yuan / ton, barreled small pieces 98400 yuan / ton, the same as 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

SMM, 5 June: a high-carbon ferrochromium plant with an annual production capacity of 20, 000 tons in Guizhou has recently shut down and overhauled its 12500kva heat furnace, mainly due to the continuous decline in the price of high-carbon ferrochromium and the loss of the factory. The time of resumption of labor has yet to be determined.

Stainless steel, waste stainless steel

SMM June 4: today Taiyuan Iron and Steel, Zhangpu, Hongwang, Chengde and other stainless steel plant guidance prices are reduced by 50 yuan / ton. Wuxi spot market, Hongwang 304 2B four feet quotation 13800 13850 yuan / ton; Taiyuan Iron and Steel 3042B cutting edge coil price 14250 14350 yuan / ton. Some people believe that the stainless steel market is now in a state of oversupply, and the current market demand is weak, the follow-up market trend will be weak operation. The average loss of steel mills in the country was 200 yuan per ton to 400 yuan per ton compared with the middle of May.

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]

[Castle Peak releases new product 304C/ 304D/ 304F/ 304Q/ 316D] SMM June 4: the third in a series of activities of "entering the win-win Future of Castle Peak," Jiang Laizhu, president of Qingtuo Research Institute, said. Qingshan Steel Plant's attitude towards 304 is mainly market segmentation: in maintaining and 304 at least the same corrosion resistance conditions, focus on the development of four major areas. 1. The meaning of, Complex forming, forming in the field of 304C-composite forming. High nitrogen austenitic stainless steel for composite forming, QN1804/304C; is mainly used in range hood, coffee maker, etc., including deep drawing and rising type. Deep drawing, rising type and corrosion resistance are required. 2. 304D-High strength decoration field, D Decoration, the meaning of decoration. High nitrogen and high strength austenitic stainless steel for decorative welded pipe, QN1803/304D; is widely used in decoration, construction, household appliances, elevators, containers and other fields. High strength and corrosion resistance are required. 3. 304F-the meaning of Food, food in the field of food contact. High nitrogen austenitic stainless steel for food contact, QN1806/304F; is mainly used in food fields such as pots, kettles, insulation cups and so on. Formability, metal ion precipitation safety and corrosion resistance are required. 4. 304Q-Deep drawing products are deep in the field of deep drawing products, and Q-Drawing Quality, means to go deep into the field of deep drawing products. High nitrogen austenitic stainless steel for deep drawing products, QN1803/304Q; needs deep drawing and corrosion resistance, mainly used in sinks, garbage cans and other non-food contact types. President Jiang also revealed that the main task of market segmentation, or can not just be reflected in 304. In the replacement of 316, the birth of 316D is also a matter of time. In terms of price, 316D is expected to be slightly more expensive than 304; in terms of composition, about 5 to 6 nickel, and molybdenum will also come down. In the future, some of the 304 requirements will be replaced by 316D.

[Wang Yidong was elected chairman of Angang shares] according to a notice issued by Angang, Wang Yidong was appointed chairman and Wang Jianhua was appointed independent non-executive director, effective May 28, 2019. The audit committee of the company is composed of Ma Weiguo, Wu Dajun, Feng Changli and Wang Jianhua, and will be chaired by Ma Weiguo. The company's nomination committee is composed of Wu Dajun, Wang Yidong, Ma Lianyong, Ma Weiguo, Feng Changli and Wang Jianhua, and will be chaired by Wu Dajun. The compensation and assessment committee is composed of Ma Weiguo, Wang Yidong, Xie Junyong, Wu Dajun, Feng Changli and Wang Jianhua, and will be chaired by Feng Changli. The Strategic Committee will be chaired by Wang Yidong, Li Zhen, Ma Weiguo, Wu Dajun, Feng Changli and Wang Jianhua. The board of supervisors examined and approved the appointment of Lu Yongli as chairman of the board of supervisors, and the board of supervisors will be composed of Lu Yongli, Liu Xiaohui and Yuan Peng.