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The nickel market (10.17) fell sharply today. Nickel spot transactions were light.
Oct 17,2019 14:59CST
The content below was translated by Tencent automatically for reference.

[17 October SMM Nickel Product Price]

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[17 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: today, Russian nickel is 300 yuan / ton higher than Shanghai nickel 1911, Jinchuan nickel is 400-600 yuan / ton higher than Shanghai nickel 1911 contract, only a few traders are reporting 400 yuan / ton, generally 600 yuan / ton. Today's nickel prices continued yesterday's decline, opening all the way lower. In the process of falling, the response of the spot market is mediocre, fully reflecting the mentality of buying up and not buying and falling, and is generally pessimistic about the future. Russian nickel rising water continues to rise slightly, but the trading is not ideal, because the source of negotiable goods is tight superimposed nickel price fell sharply, the holder is more willing to rise. However, there are still some low-liter water supply transactions, Jinchuan Shengshui 400 yuan / ton has the actual transaction. On the whole, it is not as active as the first half of the week, converging with yesterday. The ex-factory price of Jinchuan Company is 131700 yuan / ton, 3000 yuan / ton higher than yesterday.

[ex-factory price of Jinchuan Company] on October 17, Jinchuan Company quoted 131700 yuan / ton for electrolytic nickel (big board) in Shanghai and 132900 yuan / ton for barreled pieces, 3000 yuan / ton lower than yesterday.

Stainless steel, scrap stainless steel

SMM, Oct. 17 / 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. In the morning, Wuxi market quotation is mainly flat, businesses have a strong willingness to offer, but nickel prices fall, expected future prices are weak and stable, the actual transaction is still waiting for the market to verify. For 10:30 SHFE SS2002 contract selling price 15350 yuan / ton, Wuxi stainless steel spot water 520-620 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

Foshan stainless Steel Morning Review] SMM October 17, the 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 five foot roll price is stable at 15200 yuan / ton compared with yesterday's average price; 430 cold rolling and trimming volume price is flat at 8150 yuan / ton today. In the morning, the market quotation of cold and hot rolling in Foshan area has a steady and weak trend, mainly due to the relatively flat transaction in the market recently, and the downward trend of Lunni, which may have a certain market impact on the steel price in the later stage. For 10:30 SHFE ss2002 contract selling price 15350 yuan / ton, Foshan stainless steel spot water 320-400 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton).


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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