Home / Metal News / Nickel / The price of nickel in today's nickel market (10.15) fell sharply and converged with that of yesterday.
The price of nickel in today's nickel market (10.15) fell sharply and converged with that of yesterday.
Oct 15,2019 15:59CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

[15 October SMM Nickel Product Price]

* subscribe to the SMM Ni-Cr stainless steel routine report and receive the latest information in the morning, noon and closing time. Contact: Wu Tingting, 13795448891 (same as WeChat).

[15 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: on October 15, Russian nickel compared with Shanghai nickel 1911 rose 200 to 300 yuan / ton, Jinchuan nickel generally reported 500600 yuan / ton higher than Shanghai nickel 1911 contract, the discount went higher, one is due to the recent trading improvement, the other is that the nickel price has fallen sharply since last night, and the decline continues today, and the holders generally support the rising water. Today's nickel prices as a whole fell more than 3000 yuan / ton from the same trading session yesterday, and the overall transaction converged with yesterday, but the feedback from individual traders was not as active as yesterday. Today, transactions around 133500 were slightly active, it was more difficult for traders to replenish their warehouses, and transactions between downstream and traders improved. Recently Jinchuan company intends to raise water, Jinchuan company ex-factory price of 134000 yuan / ton, 3700 yuan / ton lower than yesterday. Mainstream transactions with 133300 yuan / ton-134300 yuan / ton.

[ex-factory price of Jinchuan Company] on October 15, Jinchuan Company quoted 134000 yuan / ton for electrolytic nickel (big board) in Shanghai and 135200 yuan / ton for barreled pieces, 3700 yuan / ton lower than yesterday.

Stainless steel, scrap stainless steel

SMM, Oct. 15 / PRNewswire-FirstCall-Asianet /-this morning, the quotation of private cold-rolled stainless steel in Wuxi was generally flat, with a small increase of 50 yuan / ton in hot rolling: the state-run 3042B cutting edge roll price was 16100-16300 yuan / ton, and the private 3042B rough edge roll price was 1605016150 yuan / ton. 304 / NO. 1 five feet at 15200-15300 yuan / ton. Today's market prices are flat, some traders said that logistics costs rose 3-4 times, truck capacity was affected, steel mills delayed arrival, the actual downstream demand did not change significantly. For 10:30 SHFE SS2002 contract selling price 15520 yuan / ton, Wuxi stainless steel spot water 400-500 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

[Foshan stainless Steel Morning Review] SMM October 15, morning Foshan stainless steel market state-owned 304 2B trimming volume price quoted 16200 yuan / ton, the same as yesterday's average price; private 304 2B rough edge roll price flat quoted 15800 yuan / ton; today 304 / NO. 1 five-foot roll price overquoted at 15250 yuan / ton; 430 cold rolling and trimming volume price stabilized at 8150 yuan / ton today. In the morning, the average price of cold and hot rolling in Foshan area is stable and flat compared with yesterday, and the merchants actively ship in mid-October. The slow pace of the overall steel society to go to the warehouse will have some impact on the rise of steel prices in the later stage, and it is expected that the steel price in the later stage will change with the release of demand. For 10:30 SHFE ss2002 contract selling price 15520 yuan / ton, Foshan stainless steel spot water 150-250 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

Inventory

On Oct. 11, according to SMM, the total amount of nickel stocks in Shanghai (including the inventory of previous warehouse receipts) 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. During the same period, Shanghai Free Trade Zone (including Shanghai Shitianwei, Lizitang, Lingang, Jiekai, Henry Bath) refined nickel inventory about 24700 tons, down 700 tons, including 6000 tons of nickel beans, 300 tons less than before the festival.

 

"Click to sign up for the Annual meeting of China's Nonferrous Metals Industry

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Nickel
Electrolytic Nickel
Nickel Price
Iron and Steel

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news