Home / Metal News / Nickel / A small amount of cautious procurement in the lower reaches of the domestic spot market after the sharp decline in the inventory of Lunni during the National Day period in Nickel City today (10.8).
A small amount of cautious procurement in the lower reaches of the domestic spot market after the sharp decline in the inventory of Lunni during the National Day period in Nickel City today (10.8).
Oct 8,2019 15:40CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

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[8 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: [spot trading cold on the first trading day after the festival] on October 8, Russia nickel compared with Shanghai nickel 1911 discount to flat water, Jinchuan nickel than Shanghai nickel 1911 contract generally rose by 100-200 yuan / ton, the discount water is more stable than before the festival. On the first trading day after the festival, nickel prices fell all the way from around 138500 to around 135000, but because of the low activity of the spot market after the festival, the decline in nickel prices had limited stimulus to spot transactions, and the overall trading in the market was still relatively deserted. Nickel prices stabilized and rebounded to 137000 in the process, spot transactions slightly improved, but the volume is still not optimistic, only a small amount of cautious procurement. The ex-factory price of Jinchuan Company is 136500 yuan / ton, which is 500 yuan / ton lower than that before the festival, and the mainstream transaction is 135800-136500 yuan / ton.

[ex-factory price of Jinchuan Company] on October 8, Jinchuan Company quoted 136500 yuan / ton for electrolytic nickel (big board) in Shanghai and 137700 yuan / ton for barreled pieces, which was 500 yuan / ton lower than that before the festival.

Stainless steel, scrap stainless steel

SMM, Oct. 8 / PRNewswire-Asianet /-this morning, the price of stainless steel cold and hot rolling in Wuxi area was generally flat, and the base price of 304 2B cold rolling was slightly raised by 50 yuan / ton. The price of state-owned 304 2B trimming volume is 16000-16200 yuan / ton, and that of private 304 2B rough edge roll is 15900-16000 yuan / ton. 304 / NO. 1 five feet at 15000-15100 yuan / ton. On the first day after the festival, the market quotation was mainly stable, with some traders slightly raising 50 yuan / ton. For 10:30 SHFE ss2002 contract selling price 15620 yuan / ton, Wuxi stainless steel spot water 150-250 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

[Foshan stainless Steel Morning Review] SMM October 8, Foshan market stainless steel 3042B trimming volume price in the morning after the festival is 16150 yuan / ton compared with the average price before the festival; private 3042B rough edge roll price is 150 yuan / ton higher than the price before the festival is quoted at 15700 yuan / ton; today 304 / NO. 1 five-foot roll price is 15100 yuan / ton compared with the price before the festival; 430 cold rolling and trimming volume price is temporarily stable at 8050 yuan / ton. The price of 300 series cold rolled rough edges in the morning market is 150 yuan / ton higher than that before National Day. After the festival, the overall shipment is flat, the inquiry is not much, and the traders are more flexible to make a small profit of 50 yuan / ton. For 10:30 SHFE ss2002 contract selling price 15620 yuan / ton, Foshan stainless steel spot water 100 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

Inventory

On Sept. 27, according to SMM, the total amount of nickel stocks in Shanghai, including inventory of previous warehouse receipts, was down 5649 tons to 77400 tons, or 6.8 percent, from last week. The specific changes are as follows: domestic stocks decreased by 1000 tons to 52000 tons from last week, including 10800 tons of nickel beans and 41200 tons of nickel plates. Over the same period, Shanghai Free Trade Zone (including Shanghai Shitianwei, Lizitang, Lingang, Jiekai, Henry Bath) refined nickel stocks about 25400 tons, down 4650 tons from last week, of which 6300 tons of nickel beans, 1500 tons less than last week.

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