[brief comment on Ni in SMM] Shanghai Ni has hit new highs one after another and continued to rise.

Published: Jul 12, 2019 18:10 (GMT+8)

SMM, July 12 / PRNewswire-Asianet /-

Shanghai nickel 1908 contract opened today at 103420 yuan / ton, at the beginning of the day, shanghai nickel pressure daily moving average narrow range concussion. In the afternoon, bulls increased their positions, Shanghai nickel concussion rose, breaking the daily average, touching 104050 yuan / ton, followed by a narrow range of 104000 yuan / ton under pressure, closing at 103840 yuan / ton, up 1160 yuan / ton, or 1.13 percent, from the settlement price of the previous trading day. The position was reduced by 7800 hands to 129000 hands, and the trading volume was reduced by 103000 hands to 520000 hands. Throughout the day, Shanghai nickel main contract 1908 closed in the lower shadow line Xiaoyang line, Shanghai nickel is expected to run above the 103400 yuan / ton gate in the evening.

This evening focused on the event in 2019 FOMC vote Committee, Chicago Federal Reserve Chairman Evans (Charles Evans) was interviewed on economic issues.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[SMM Stainless Steel Flash] Taiwan (PoC) 304 market tests mill hikes as distributors trim low-priced stock
23 mins ago
[SMM Stainless Steel Flash] Taiwan (PoC) 304 market tests mill hikes as distributors trim low-priced stock
Read More
[SMM Stainless Steel Flash] Taiwan (PoC) 304 market tests mill hikes as distributors trim low-priced stock
[SMM Stainless Steel Flash] Taiwan (PoC) 304 market tests mill hikes as distributors trim low-priced stock
October 304 list prices in Taiwan (PoC) rose again, marking a third consecutive monthly increase, and market participants see this week as a test of whether distributors will accept the new levels. Mills are holding firm on pricing, and distribution channels still need to restock. Although raw material costs have fluctuated slightly, the finished product market remains resilient: Indonesian 304 2B cold-rolled export offers are firm and Asian quotations remain elevated overall. With inventory costs rising, distributors are gradually pulling back on low-priced sales, narrowing the supply of cheaper material. Prices are expected to edge higher with the low end of the range tightening, though this will depend on how the Chinese market performs after the holiday and on actual transactions. If Chinese prices soften after the holiday, distributors in Taiwan (PoC) will find it much harder to pass costs on.
23 mins ago
[SMM Nickel Flash News] Indonesia Update — October 5, 2026
19 hours ago
[SMM Nickel Flash News] Indonesia Update — October 5, 2026
Read More
[SMM Nickel Flash News] Indonesia Update — October 5, 2026
[SMM Nickel Flash News] Indonesia Update — October 5, 2026
Indonesian nickel ore CIF average prices remained broadly stable, with the latest SMM assessment: 1.2% Ni: CIF price at $25.5/wmt, unchanged 1.3% Ni: CIF price at $27.5/wmt, unchanged 1.4% Ni: CIF price at $48.7/wmt, unchanged 1.5% Ni: CIF price at $54.2/wmt, unchanged 1.6% Ni: CIF price at $59.0/wmt, unchanged In the upstream market, nickel ore prices have weakened from late-September levels as additional RKAB quotas gradually enter the market and sellers face increasing pressure to adjust prices. SMM reported that discounts have officially emerged, with some ore prices falling below the HPM benchmark. Meanwhile, the first-half October nickel HMA was reduced to $16,322.67/mt, down $375.33/mt, or 2.25%, from the second-half September HMA of $16,698/mt.
19 hours ago
【SMM Nickel Flash News】Nickel Weather Risks Remain Manageable on October 5–11
20 hours ago
【SMM Nickel Flash News】Nickel Weather Risks Remain Manageable on October 5–11
Read More
【SMM Nickel Flash News】Nickel Weather Risks Remain Manageable on October 5–11
【SMM Nickel Flash News】Nickel Weather Risks Remain Manageable on October 5–11
Weather conditions across major nickel-producing and logistics areas in the Philippines, Indonesia and China are expected to remain generally manageable on October 5–11, with localized weather potentially causing short-term operational disruptions. In the Philippines, Palawan and Surigao may see scattered rain and thunderstorms on October 6–7, while rainfall could increase in Eastern Visayas and Mindanao on October 8–9, posing temporary risks to mine-road transport, ore barging and vessel loading. In Indonesia, Morowali and Konawe are expected to remain relatively stable, with low rainfall and no significant storm activity. Halmahera and Obi may see occasional rain and stronger winds, which could briefly affect marine logistics. In China, major nickel ore receiving ports are expected to remain largely operational, although localized rain and stronger winds could cause brief delays to vessel handling and cargo transportation.
20 hours ago