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SMM October 16 Shanghai Nickel spot Newsletter
Oct 16,2019 12:02CST
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The content below was translated by Tencent automatically for reference.

SMM, 16 October:

Today, Russian nickel is 200 yuan higher than Shanghai nickel 1911 to 300 yuan / ton, Jinchuan nickel is 500-600 yuan / ton higher than Shanghai nickel 1911 contract, and the discount water is stable yesterday. Today, traders generally feedback, the spot market Russian nickel deliverable supply is slightly tight, some of the new Russian nickel can not be delivered, resulting in a decline in the overall flow of Russian nickel. Superimposed on the recent spot market trading improvement, downstream began to enter the market to replenish the warehouse, the supply of goods is more tense than before. In the morning, nickel prices fluctuated around 140000 as a whole, with a slight drop in the last session, trading was not in a hurry for the first half of the week, and the activity between traders also declined, because the overall supply of goods by the holders was not large, and the willingness to rise was strong, and it was difficult for traders to replenish their warehouses at low prices. Recently, Jinchuan Company has raised its water. The ex-factory price of Jinchuan Company is 134700 yuan / ton, which is 700 yuan / ton higher than yesterday. Mainstream transactions with 134100 yuan / ton-134700 yuan / ton.

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