Today's nickel market (7.22) profit long position closure nickel price correction from its high

[price of SMM nickel products on 22 July]

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[July 22 SMM nickel market trends]

Electrolytic nickel

Spot: SMM July 22 news: Russian nickel than Shanghai nickel 1908 discount 350-paste 300 yuan / ton, more stable than last Friday. Today, the nickel price correction, the overall fluctuation around 105000 yuan / ton narrow range, the market response is flat, mostly for traders to inquire each other, downstream buyers are very few. Although the spot transaction is cold, but the holder because recently does not have the massive source of goods to flow into the domestic, basically by the straight rise discount water primarily. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1300 yuan to 1, 500 yuan / ton, a small increase from Friday. Jinchuan nickel is also high due to nickel prices, downstream procurement decreased, but the recent Jinchuan nickel circulation is tight, resulting in a slight increase in rising water. The ex-factory price of Jinchuan Company was 116000, down 2500 yuan per ton from Friday, and the mainstream transaction was 114500 to 116300 yuan per ton.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 116000 yuan / ton, barreled small pieces 117200 yuan / ton, down 2500 yuan / ton compared with Friday.

Nickel pig iron, nickel ore

SMM July 19: according to customs forecast data, the import of nickel and iron in June was 121197 tons, down 8.1 per cent (10690 tons) from the previous month, up 93.3 per cent from the same period last year, of which Indonesia imported 79395 tons, down 10.3 per cent (9104 tons) from the previous month and up 170.9 per cent from the same period last year. (final data are based on official customs data)

[Western Areas meets its target of 21675 tons of nickel concentrate for fiscal year 2019] SMM July 22 -: Western Areas report shows that in fiscal year 2019, the company's nickel concentrate production reached 21675 tons, in line with the company's annual production plan of 20, 000 tons to 22000 tons. And nickel sales reached 21483 tons in fiscal 2019, of which sales peaked at 5890 tons in June.

SMM July 19: as of Friday, all ports across the country nickel mine stocks increased to 13.5 million wet tons, an increase of 310000 wet tons over the previous week, the total amount of metal equivalent to 113000 tons, an increase of 2600 tons over the previous week.

Nickel sulfate

SMM July 19: according to SMM research, the price of battery-grade nickel sulfate continued to rise in the second half of the week, with some enterprises bidding to 26000 to 27000 yuan / ton, which is about 2250 yuan / ton higher than the mainstream transaction in the first half of the week. However, downstream production reduction more demand is weak, and the current price exceeds market expectations, inventory can temporarily maintain wait-and-see, do not know the transaction.

Ferrochromium

SMM July 19: July 19, the recent news of the northern power limit has been continuously heated by the market, although the impact on the local market output is limited, but some industries say that the power limit has a greater impact on the indicators of ferrochromium products, will affect the chromium slag recovery rate. As a result, the production cost will rise, so the price of high-carbon ferrochromium will rise by an average of about 100 yuan / 50 base tons. Today, the ferrochromium plant in Inner Mongolia will resume production, and the local ferrochromium production will increase. Under the power restriction policy, the overall supply of ferrochromium in the market remains strong.

SMM July 19: this week's port chromium mine inventory decreased by 57000 tons, a total of 2.771 million tons, including 1.9 million tons in Tianjin Port, 420000 tons in Qinzhou Port, 204000 tons in Lianyungang and 60, 000 tons in Shanghai.

Stainless steel, waste stainless steel

[Wuxi stainless steel market quotation is flat today] SMM July 22: Wuxi stainless steel plant guidance price increased by 100 to 200 yuan / ton, but the market quotation is flat compared with last Friday. After last week's continuous increase in stainless steel prices, today's market offer is generally stable, Wuxi 304 / NO.1 quoted 14400 14600 yuan / ton, 3042B rough edge roll price 15000 15200 yuan / ton. Some agents said that at present, most traders hold a wait-and-see attitude and inquire frequently, but there are fewer actual transaction orders.

[hot rolling of stainless steel in Foshan area raised by 50 yuan / ton] SMM July 22: the hot rolling price of stainless steel in Foshan area is 50 yuan / ton higher than that on Friday, the price of 304/NO.1 edge coil is 15150 to 15350 yuan / ton, and the price of 304/NO.1 trimming coil is 15650 to 15750 yuan / ton. Some traders said that although the price is still strong, but downstream demand is weak, the actual transaction is not good.

[SMM stainless Steel Plant Guide Price] on July 22, Wuxi Taiyuan Iron and Steel Co., Ltd. spot daily guidance price is 200 yuan / ton https://news.smm.cn/news/100952597 lower than last Friday.

[SMM stainless steel plant guide price] July 22 Wuxi stainless steel plant guide price cold rolling up 100 to 200 yuan / ton https://news.smm.cn/news/100952518

Inventory

According to the SMM survey, the total amount of nickel stocks in Shanghai, including the previous warehouse receipt stocks, rose 6192 tons, or 8.68 per cent, from last week to 77500 tons. The specific changes are as follows: stocks in East China increased by 800 tons to 32300 tons compared with last week, while stocks in the Shanghai Free Trade Zone (including Shanghai Tianwei, Capital Management Hall, facing Port, Jiekai and Henry Bath) refined nickel stocks increased by 4000 tons to 18000 tons over the same period.

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