SMM, Aug. 2 / PRNewswire-Asianet /-
Overall, nickel prices fell back on Monday this week and remained strong in the next few days, with the ferronickel market closing at 1050 to 1060 yuan per nickel point to factory tax at the beginning of the week, but then the strong nickel price gave sellers more confidence and widened differences between buyers and sellers.
At present, the price of ferronickel is strong or for the following three reasons. First, on the basis of high production schedule, stainless steel plants also increase the proportion of ferronickel use due to excellent economy. Q2 in some steel mills may increase the proportion of Q2 nickel pig iron by about 9% compared with Q1. Second, the import volume was not as expected, and the increase in Indonesian stainless steel production led to the on-the-spot digestion of nickel and iron and the reduction of import volume. Third, part of the steel plant stock cycle lengthened, from the original 1-1.5 months of raw material inventory, extended to the purchase of 2 months of raw material inventory, resulting in the pre-demand, but there may be hidden worries, later if the steel plant closed plate to stop purchasing, let raw material inventory return to normal, then the pre-overbought demand will become a drag on the later demand, so we need to pay attention to the procurement of some steel mills. At present, there are still steel mills have not yet completed the stock of raw materials in August and September, the buyer still believes that the price is on the high side, but the stock is imminent, or also has to buy, but this week, in addition to a small number of transactions at the beginning of the week, the difference between buying and selling led to light market transactions and the discount continued to expand. This week, high nickel pig iron compared with electrolytic nickel weekly average premium, discount expanded 6.40 yuan / nickel point to discount 80.00 yuan / nickel point.
