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Today's nickel market (10.16) nickel prices around the 140000 shock trading is not as active as the first half of the week
Oct 16,2019 16:44CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

[16 October SMM Nickel Product Price]

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[16 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: today, Russian nickel compared with Shanghai nickel 1911 water 200 to 300 yuan / ton, Jinchuan nickel compared with Shanghai nickel 1911 contract generally increased water 500-600 yuan / ton, discount water to maintain stability 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.

[ex-factory price of Jinchuan Company] Today, October 16, Jinchuan Company Electrolytic Nickel (Big Board) Shanghai quoted 134700 yuan / ton, barreled small pieces 135900 yuan / ton, 700 yuan / ton higher than yesterday.

Nickel iron

SMM, Oct. 16 / PRNewswire-FirstCall-Asianet /-- SMM high nickel pig iron (ex-factory price) was 1195-1230 yuan / nickel point, 32.5 yuan / nickel point lower than the previous day. The breakthrough in the price of high-nickel pig iron in the early stage is closely related to the financial behavior of individual manufacturers and traders, but the nickel price has been loosened this week, and the foreign inquiry of the large stainless steel factory in the south is still dominated by low prices or a small amount of procurement, and its intended price is only 1200 yuan / nickel point (to the factory), which makes the market confidence fall back very quickly. Today, the quotation range of nickel and iron manufacturers is 1220-1230 yuan / nickel point, there is still some room for discussion. Although the current psychological price gap is not large, but many downstream buyers see the market situation to reverse the demand release are biased, the holder said that even in 1220 yuan / nickel point of the price is difficult to ship.

Stainless steel, scrap stainless steel

SMM, October 16 / PRNewswire-FirstCall-Asianet /-- this morning in Wuxi, Wuxi quoted the price of state-owned 304 2B trimming volumes at 16100-16300 yuan per ton, and private 304 2B rough edges at 16000-16100 yuan per ton. 304 / NO. 1 five feet at 15300-15400 yuan / ton. Today, the market transaction price is flat, some traders slightly reduced the cold rolling price 50 yuan / ton, because the nickel price falls, the downstream risk aversion mood aggravates, the transaction is slightly light. For 10:30 SHFE SS2002 contract selling price 15505 yuan / ton, Wuxi stainless steel spot water 365-465 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

Foshan stainless Steel Morning Review] SMM October 16, morning Foshan stainless steel market state 3042B trimming volume price is stable at 16200 yuan / ton compared with yesterday's market price; private 3042B rough edge roll price is flat at 15750 yuan / ton today; today 304 / NO. 1 5ft roll price is 50 higher than yesterday's average price at 15200 yuan / ton; 430 cold rolling and trimming volume price is flat at 8150 yuan / ton today. Foshan hot rolling in the morning has a small price increase of 50 yuan / ton, cold rolling average price is flat, the current downstream 300 series hot rolling goods atmosphere preference, demand for better steel prices will also rise. For 10:30 SHFE ss2002 contract selling price 15505 yuan / ton, Foshan stainless steel spot water 165-265 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.

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