Today's nickel market (7.23) nickel prices continue to fall and wait and see the trend of funds

[price of SMM nickel products on 23 July]

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[July 23 SMM nickel market trends]

Electrolytic nickel

Spot: Russian nickel than Shanghai nickel 1908 discount 300-paste 100 yuan / ton, narrower than yesterday. In early trading, the nickel price fell to less than 112000 yuan, stabilized and rebounded, to 113000 after a narrow range of shock, the morning transaction response was flat, more for traders to inquire each other, the lower reaches of the market buyers are less. Although the price is much lower than yesterday, but the downstream is still more pessimistic about the future, cautious procurement. 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 1400 yuan / ton, compared with yesterday continued to expand. Jinchuan nickel transaction is also light, but the recent Jinchuan nickel circulation is tight, resulting in a small rise in rising water. The ex-factory price of Jinchuan Company was quoted at 114500, down 1500 yuan per ton from yesterday, and the mainstream transaction was 112900 to 114700 yuan per ton.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 114500 yuan / ton, barreled small pieces 115700 yuan / ton, down 1500 yuan / ton compared with Friday.

Nickel pig iron, nickel ore

SMM July 22: according to customs forecast data, in June 2019, China's nickel iron import volume was 121197 tons, which was converted to 22664.20 nickel tons after SMM analysis. (source: China Customs)

[southern a steel mill this week high nickel iron transaction price is strong] according to SMM research, a southern steel mill this week high nickel iron purchase price is 1080 to 1100 yuan / nickel point, to the plant including tax, compared with last week 1080 to 1090 yuan / nickel point transaction price increased slightly, of which 1100 yuan / nickel point high-end price is large; in addition, if the chromium content is high, you can increase the price to 1120 yuan / nickel point.

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.

Chromium ore, ferrochromium

SMM July 22: Tianjin Port South Africa Powder raised 0.5 yuan / tonnage to 27-27.5 yuan / tonnage on Monday, mainly supported by the recent price recovery of high-carbon ferrochromium, factory inquiries increased, and procurement enthusiasm increased.

SMM July 22: July 22, due to the failure of 500kV equipment at 19:05 in Inner Mongolia yesterday, some areas of limited electricity may be affected, the local ferroalloy market has been boosted, some manufacturers increased the offer of about 50 yuan / 50 base tons, at the same time close to the steel move, the price before the move is conducive to the price upward trend. However, some ironworks said that due to this round of power limit is an emergency, so small and medium-sized ferrochromium plants will be affected, but the impact of a long or short period of time, with their own power manufacturers almost no impact.

Stainless steel

[Foshan stainless steel price down 50 yuan / ton] SMM July 23: Foshan stainless steel 200 series, 300 series market prices are reduced by 50 yuan / ton, 201 2B volume price 8100 8200 yuan / ton, 304 2B rough edge roll price 15100 15300 yuan / ton. Some traders said that the current quotation is relatively stable, but the actual transaction price range is relatively large, due to the shortage of funds at the end of the month and bearish future market, some traders let profit shipment, 304 cold rolling in 14900 to 15200 yuan / ton range have a deal.

[SMM stainless steel plant guide price] Wuxi Taiyuan Iron and Steel Co., Ltd. spot daily guidance price down 200 yuan / ton https://news.smm.cn/news/100953001 on July 23.

[SMM stainless steel plant guide price] on July 23, the guidance price of Wuxi stainless steel plant fell 150 to 300 yuan / ton https://news.smm.cn/news/100953060.

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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