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Nickel stocks in Nickel Market (10.11) fell for 10 days in a row to maintain a high level in today's nickel market (10.11)
Oct 11,2019 17:19CST
The content below was translated by Tencent automatically for reference.

[11 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: [following yesterday's delivery of downstream pre-agreed supply after entering the market to flat to 1911 yuan / ton, Jinchuan nickel compared with Shanghai nickel 1911 contract generally reported 200-300 yuan / ton, rising water continues to maintain stability yesterday, Jinchuan nickel rising water, holders reported up 300 yuan / ton. Today, nickel prices out of the deep V, early trading hours, nickel prices from 137300 all the way down to 135800 near, the spot market response was mediocre, spot transactions did not improve significantly. After traders agreed on the source of goods before delivering to steel mills yesterday, the market was flat today. Nickel prices stabilized and rebounded to near the opening price in 135800, and the market continued its morning mood, with fewer buyers entering the market. The ex-factory price of Jinchuan Company is 137700 yuan / ton, 500 yuan / ton higher than yesterday.

Nickel pig iron

SMM, Oct. 11: the trading center of the nickel pig iron market continued to rise this week. On October 11, the price of SMM high nickel pig iron was 12301290 yuan / nickel point (ex-factory), and the average price was 35 yuan / nickel point higher than that on September 30. After the festival returns to the city, most manufacturers deliver the goods according to the previous price, the price is all in 1200 yuan / nickel point above, and among them is willing to quote the lower price the factory actual shipment also depends on the cooperation relations, and the latest negotiation transaction price has also reached 1250 yuan / nickel point (ex-factory) above. For the general stainless steel plant, although the intention to suppress the purchase price is still obvious, but the source of low-price goods is difficult to find, the actual purchase price must be accepted at least 1250 yuan / nickel point (to the factory) level before it is possible to close the deal. Due to special reasons, stainless steel plants also purchase high-nickel pig iron at a level higher than the market price, with a total amount of tens of thousands of tons. The two purchase prices are 1280 yuan / nickel point (arrival price) and 1300 yuan / nickel point (arrival price). Recently, the transaction price in the nickel pig iron market is more chaotic, or has something to do with the specific circumstances of the buyers and sellers behind each transaction. On Friday, a large stainless steel plant in South China purchased high nickel and iron with an inquiry of 12001220 yuan / nickel (including tax), of which 1220 yuan / nickel (including tax) required a high nickel, iron and chromium content of more than 2.2%. Purchase demand of 20, 000 tons, it is understood that there are 4000 tons of transactions.

Stainless steel, scrap stainless steel

[Fujian Yongjin 304 cold rolling November futures opening] SMM October 11: Fujian Yongjin 304 cold rolling November futures including tax price 15600 yuan / ton, this price is flat compared with the opening price on October 9.

[Castle Peak 304 Series November Futures Price] SMM October 11: Castle Peak 304 series November futures market starts today, 304 hot rolled plate sales guidance price of 15200 yuan / ton, up 100 yuan / ton from September 20. Delivery in November. The quantity is pending approval.

SMM October 11: today, Wuxi private cold and hot rolled stainless steel quotation has increased by 100 yuan / ton, 3042B rough edge roll price 1605016150 yuan / ton, 304 / NO. 1 five feet 1520015300 yuan / ton. The state-run 304 2B trimming volume price is quoted at 16100-16300 yuan / ton, the same as yesterday's price. As a result of the collapse of National Highway 312 yesterday, today, traders generally said that it has a greater impact on stainless steel delivery and pick-up. At present, the road is being repaired, and transportation costs are expected to rise to a certain extent at a later stage. Today 10:30 SHFE ss2002 contract selling price 15730 yuan / ton, Wuxi stainless steel spot water 190-290 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton).

Foshan stainless steel spot morning review] SMM October 11: Foshan stainless steel market state-owned 304 2B trimming roll price is slightly higher than yesterday's market price 50 to 16200 yuan / ton; private 304 2B rough edge roll price today rose 50 reported at 15750 yuan / ton; today 304 / NO. 1 five feet roll price stable at 15200 yuan / ton; 430 cold rolling edge cutting volume price is flat at 8150 yuan / ton today. In the morning, Foshan cold rolling has a small increase of 50 yuan / ton, hot rolling prices are flat, the current downstream inquiry take goods atmosphere gradually optimistic, rigid demand is more, traders flexible delivery of goods, it is expected that the later demand for better steel prices will also rise. For 10:30 SHFE ss2002 contract selling price 15730 yuan / ton, Foshan stainless steel spot discount 60-liter water 40 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)


According to SMM research, the total amount of nickel inventory in Shanghai (including the previous warehouse receipt inventory) increased by 1124 tons to 78500 tons, an increase of 1.5 percent. Domestic stocks increased by 1824 tons to 53800 tons, including about 10700 tons of nickel beans and 43100 tons of nickel plates. In the same period, the refined nickel inventory in Shanghai Free Trade Zone was about 24700 tons, 700 tons less than that before the festival, of which 6000 tons were nickel beans, 300 tons less than that before the festival.

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Electrolytic Nickel
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