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Today's nickel market (6.14) tends to push the nickel price back to 100,000 to pay attention to the delivery of the 06 contract.
Jun 14,2019 13:31CST
The content below was translated by Tencent automatically for reference.

[price of SMM nickel products on 14 June]

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[June 14 SMM nickel market trends]

Electrolytic nickel

Spot: Russian nickel in the morning than Wuxi 1906 discount 50 yuan / ton to flat water. Recently, the profit of domestic imports continues to expand, basically to a profit of 2500 yuan / ton. Traders feedback that there is a source of goods coming in later, and now they want to ship the goods actively, but due to the approach of delivery, the basic minimum discount is 50 yuan per ton, or direct delivery. Early trading hours, the market price is basically below 100000 yuan / ton shock, Jinchuan nickel than Wuxi 1906 contract generally reported water rise of 800yuan / ton, 10:30, the market price continues to rise to 101000 yuan / ton, Jinchuan factory quoted 101000 yuan / ton.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 101000 yuan / ton, barreled small pieces 102200 yuan / ton, up 1700 yuan / ton from yesterday.

Early trading: the Lenniya plate opened at US $11870 per tonne today. In the afternoon, nickel above the pressure daily moving average, below by $11850 / ton first-line support, range concussion. In the afternoon, Lennie rose, breaking through the $12000 / tonne mark and reaching $12040 per tonne. Subsequently, into the European session, the nickel fell slightly, with a daily average of $11940 / ton first-line support, a narrow range of fluctuations. At night, nickel fell sharply, giving back all its gains in the morning to $11800 a tonne. The center of gravity then fluctuated within a narrow range around $11830 a tonne, closing at $11845 a tonne. Positions increased by 3600 to 258000 and trading volume increased by 3200 to 11000. Stocks were reduced by 288t to 163704 t.

Overnight Shanghai nickel opened at 100040 yuan / ton, at the beginning of the plate, Shanghai nickel below the 100000 yuan / ton customs support, touch high 100370 yuan / ton, pressure 100300 yuan / ton first line, interval concussion operation. Subsequently, Shanghai nickel fell slightly, with a narrow range of 99500 yuan / ton first-line support below, closing at 99630 yuan / ton.

Yesterday, affected by the explosion of two large oil tankers, crude oil quickly pulled up, crude oil futures also rose sharply, the United States, cloth two oil quickly pulled up, 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.

Nickel rose and fell back yesterday, with Shanghai nickel up 1.25 per cent. It is expected to fluctuate in the range of US $11750 to US $11950 / ton today. Shanghai nickel may be supported by the 60-day moving average of 99000 yuan / ton and fluctuate above, with spot prices ranging from 98000 to 100000 yuan / ton.

Nickel pig iron, nickel ore

Yesterday, according to SMM research, with the continuation of torrential rains and floods in Indonesia, a nickel pig iron enterprise in Indonesia was unable to feed and affected production. Some mining companies say they are unable to mine because of floods. According to the latest news, the Indonesian nickel pig iron enterprise suspended production of six high-nickel iron production lines due to flooding, is expected to resume three high-nickel iron production lines today, so the total number of days affecting production is about 2 to 3 days.

On June 13, according to foreign media sources, the Indonesian government asked mining companies to seriously build smelting and processing plants, and the Indonesian Ministry of Energy and Mineral Resources (ESDM) set a target of 25 to 30 percent for the construction of the smelter by the end of this year. Otherwise, the government will cancel its export license.

SMM summed up the list of mines that need to build smelters in last week's news. News link: https://news.smm.cn/news/100935466

Stainless steel, waste stainless steel

[cold hot rolling price of stainless steel in Foshan] Today, the transaction price of private cold rolling of stainless steel in Foshan area was reduced by 50 yuan / ton, of which Hongwang Maobian base price was 13650 to 13700 yuan / ton, and the state-owned 304 2B was quoted at 14700 to 14800 yuan / ton. In the afternoon, although Shanghai nickel pull up, stainless steel quotation is stable, agents operate cautiously.

[cold hot rolling price of stainless steel in Wuxi] the guiding price of cold hot rolling in stainless steel plant was flat this morning. 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.

[guide Price of SMM stainless Steel Plant] Today, the cold and hot rolling prices of stainless steel plants in Wuxi have been raised by 50 yuan per ton.

For more information, please see https://news.smm.cn/news/100938003

Weekly inventory statistics

[SMM pure nickel inventory statistics]

According to the SMM survey, the total amount of nickel stocks in Shanghai, including the previous warehouse receipt stocks, increased by 363 tons, or 0.6 per cent, from last week to 57200 tons. The specific changes are as follows: inventory in East China increased by 2200 tons to 26200 tons compared with last week, mainly due to good import profits in the near future. Bonded areas and long-term arrival goods have been declared to enter the mainland one after another. During the same period, the stocks of refined nickel in Shanghai Free Trade Zone (including Shanghai Tianwei, Ritzit, Lingang, Jiekai and Henry Bath) decreased by 3000 tons to 19900 tons compared with last week.

* subscribe to the SMM Ni-Cr stainless Steel routine report and receive the latest nickel inventory information every Friday. Contact: Zhu Junhui, 13917953839 (same WeChat).

[nickel Industry News focus]

[Qianyuan Company of Shandong Energy reloading Group has reached a strategic cooperation framework with Jiugang Group and Ningbo Shilihe] on June 12, Wang Yurui, general manager of North China District of Jiugang Group, Ningbo Shili and Luo Ming, general manager of Jiugang Group, went to Qianyuan stainless Steel Company of Shandong Energy reloading Group to discuss and exchange, and the three sides reached a strategic cooperation framework for jointly producing and developing automotive decoration strips, household appliance materials, and other products. Through tripartite consultation, it is determined that Jiugang Group will provide raw materials, Ningbo Shili will provide 400 series of production technology and market, at the same time, give full play to the equipment capacity, performance advantages and experience of producing hard products of Qianyuan Company of Shandong Energy reloading Group, take hard materials as high value-added products and BA fabrics as production capacity, so as to achieve the goal of complementary advantages and win-win cooperation among the three sides.

[GM's net profit fell about 42.5% in the first quarter of 2019 from a year earlier, while sales of stainless steel rose nearly 110% from a month earlier.]

According to a report released by (USAP), a US general stainless alloy company, sales in the first quarter of 2019 were 10160 tons, down 8.9 per cent from a year earlier and up 2.9 per cent from a month earlier. Sales fell about 5.4 per cent from a year earlier and rose about 5.6 per cent from a month earlier to $60.271 million, with specialty alloys including stainless steel down about 1.4 per cent year-on-year and up about 3.3 per cent to $49.764 million (stainless steel up about 7.1 per cent and 16.2 per cent to $45.995 million, respectively). Advanced alloys (vacuum induction smelting products) decreased by about 20.9 per cent year-on-year and increased by about 15.6 per cent from the previous month to $9.37 million. During the same period, sales to the aerospace and power generation markets rose over the same period, while sales to the oil and gas, heavy equipment and general industrial markets decreased over the same period. The share of sales in the aerospace market also rose to 70.7% from 56.9% a year earlier and 61.5% in the previous quarter.

In the first quarter of 2019, its gross operating profit (EBITDA) fell about 20.8 per cent from a year earlier and rose about 29 per cent from a month earlier to $6.97 million, while net profit fell about 42.5 per cent from a year earlier and nearly 110 per cent to $1.222 million; undelivered orders at the end of the quarter rose about 43.6 per cent and 3.1 per cent to $130.1 million, respectively.


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