Home / Metal News / Nickel / [2019.6.14 minutes of internal nickel morning meeting] Pure nickel transaction will be less likely to wait and see next week after the breakthrough of 100,000 hurdles.
[2019.6.14 minutes of internal nickel morning meeting] Pure nickel transaction will be less likely to wait and see next week after the breakthrough of 100,000 hurdles.
Jun 14,2019 09:58CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel spot market: affected by the news of the damage caused by the accident of two large oil tankers in the Sea of Oman yesterday, crude oil rose rapidly, crude oil futures also rose sharply, the United States and Brazzaville oil quickly rose, up more than 2%. The unexpected rise in initial jobless claims in the US last week may have contributed to concerns that the US labour market is losing momentum further after a sharp slowdown in US employment in May. On the Chinese side, Science and Technology Innovation Board officially opened the board at the 11th Lujiazui Forum yesterday, while Huang Hongyuan, chairman of the Shanghai Stock Exchange, said at the forum that the first batch of Science and Technology Innovation Board is expected to list within two months. Today's focus is on the monthly retail rate in the United States in May, the initial consumer confidence index at the University of Michigan in June, and the annual rate of industrial value added in China over May.

Stainless steel market: Wuxi market, yesterday morning stainless steel plant cold hot rolling guidance price flat. SMM research, the downstream transaction is light. Wuxi market state 3042B rough edge roll price 14200 14300 yuan / ton, private 3042B rough edge roll price 14000 14100 yuan / ton, Delong 304 / NO. 15 feet quoted 13250 yuan / ton-13300 yuan / ton. In the afternoon, Shanghai nickel pull up, Castle Peak hot roll seal, in addition to individual adjustment, but the large agent quotation is stable, mainly to clear the warehouse. In Foshan market, the transaction price of stainless steel private cold rolling is reduced by 50 yuan / ton, of which Hongwang rough edge base price is 13650-13700 yuan / ton, and the state-owned 304 2B is 14700-14800 yuan / ton. In the afternoon, although Shanghai nickel pull up, stainless steel quotation is stable, agents operate cautiously.

In terms of stocks: nickel stocks were 163700 tons on 13 June, a decrease of 288 tons compared with 12 June.

Nickel price judgment: the recent news is frequent, multi-empty intertwined, such as Indonesia flood affects nickel mine, nickel pig iron enterprise production, domestic stainless steel plant maintenance influence 3 series production and so on, has the obvious influence to the market sentiment, superimposed bulls squeeze the warehouse tendency and the hidden inventory stimulation, generally speaking, long and short are more difficult to operate, it is expected that the nickel price shock and consolidation in the short term.

Nickel
minutes of internal morning meetings

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