Non-ferrous

Non-ferrous

Base Metals

Rare Earth

Scrap Metals

Minor Metals

Precious Metals

Ferrous Metals

Ferrous Metals

Iron Ore Index Iron Ore Price Finished Steel Coke Coal Pig Iron Silicon Steel

New Energy

New Energy

Solar Lithium Cobalt Ternary Precursor and Material Anode Materials Chemical Compound Lithium-ion Battery Used Lithium-ion Battery Sodium-ion Battery Hydrogen Energy Energy Storage

Dashboard DatabasePro Reports Events Consulting

Home / Metal News / Spot nickel trades remain muted as SHFE nickel plunges

Spot nickel trades remain muted as SHFE nickel plunges

Oct 17, 2019 15:12

Source:SMM

Russian nickel was quoted in a premium of 300-400 yuan/mt over the SHFE 1911 contract

SHANGHAI, Oct 17 (SMM) – Even as prices of futures dropped about 3%, spot nickel trades across Shanghai were muted in the morning of Thursday October 17, pointing to a pessimistic outlook across the market.

The nickel contract on the Shanghai Futures Exchange for November delivery plunged about 3% to the lowest since September this morning.

In the Shanghai spot market, Russian nickel was quoted in a premium of 300-400 yuan/mt over the SHFE 1911 contract, up from 200-300 yuan/mt on Wednesday morning.

Premiums for Jinchuan materials were heard in a range of 400-600 yuan/mt, as some traders lowered their quotes to a premium of 400 yuan/mt to discharge cargoes.

The producer Jinchuan raised its offer by 3,000 yuan/mt to 131,700 yuan/mt today.

Sellers insisted on higher premiums, while buyers remained on the sidelines. This resulted in a quiet market this morning, compared with brisker transactions earlier this week.

Market commentary

Nickel

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news

SMM Evening Comments (Dec 31): Shanghai nonferrous metals fell across the board

SHFE nonferrous metals broadly fell on Thursday December 31 as multiple markets closed early for New Year's Eve.

time

Dec 31, 2020 18:00

SMM Evening Comments (Dec 31): Shanghai nonferrous metals fell across the board

SMM Morning Comments (Dec 29): LME base metals were mostly higher after trading resumed

Shanghai base metals mostly cruised lower on Tuesday morning, while their counterparts on the LME rose for the most part as market sentiment was boosted after Trump signed into law the $2.3 trillion pandemic aid and spending package.

time

Dec 29, 2020 09:45

SMM Morning Comments (Dec 29): LME base metals were mostly higher after trading resumed

SMM Morning Comments (Dec 9): Shanghai base metals and the LME complex mostly advanced

Nonferrous metals on the SHFE were mostly higher on Wednesday morning, while their counterparts on the LME also advanced for the most part.

time

Dec 9, 2020 10:01

SMM Morning Comments (Dec 9): Shanghai base metals and the LME complex mostly advanced

SMM Evening Comments (Dec 8): Shanghai nonferrous metals closed mostly higher as investors remained cautious over post-Brexit trade deal

SHFE nonferrous metals rose for the most part on Tuesday November 8 as investors remained cautious over rising coronavirus cases, U.S. stimulus negotiations as well as Brexit talks between the U.K. and the European Union.

time

Dec 8, 2020 18:00

SMM Evening Comments (Dec 8): Shanghai nonferrous metals closed mostly higher as investors remained cautious over post-Brexit trade deal

SMM Morning Comments (Nov 6): Shanghai base metals performance mixed as US election uncertainty remains

Shanghai base metals traded mixed on Friday morning, as investors continue to wait for a result from the US election. Meanwhile, their counterparts on the LME were mostly higher.

time

Nov 6, 2020 09:55

SMM Morning Comments (Nov 6): Shanghai base metals performance mixed as US election uncertainty remains

SMM Evening Comments (Sep 17): Shanghai nonferrous metals fell across the board

SHFE nonferrous metals fell across the board on Thursday September 17.

time

Sep 17, 2020 18:02

SMM Evening Comments (Sep 17): Shanghai nonferrous metals fell across the board

SMM Morning Comments (Sep 17): Nonferrous metals fell across the board after the Fed hints low rates until 2023

Nonferrous metals on both SHFE and LME declined across the board in early trading of Thursday as investors react to developments from the US Federal Reserve which said it would keep interest rates near zero for years until US economy heals from the effect of the coronavirus pandemic.

time

Sep 17, 2020 10:01

SMM Morning Comments (Sep 17): Nonferrous metals fell across the board after the Fed hints low rates until 2023

SMM Evening Comments (Sep 15): Shanghai nonferrous metals closed mostly higher, tin fell 0.23%

SHFE nonferrous metals rose for the most part on Tuesday September 15 as China's investment and consumption data in August improved on the macro level, leading to the optimistic investment sentiment.

time

Sep 15, 2020 18:17

SMM Evening Comments (Sep 15): Shanghai nonferrous metals closed mostly higher, tin fell 0.23%

SMM Evening Comments (Sep 14): Shanghai nonferrous metals rose across the board

SHFE nonferrous metals closed higher across the board on Monday September 14 as China’s social financing for August exceeded expectations to boost market confidence.

time

Sep 14, 2020 17:49

SMM Evening Comments (Sep 14): Shanghai nonferrous metals rose across the board

Nickel ore inventories at Chinese ports rose 55,000 wmt to 8.91 million wmt

Nickel ore inventories across all Chinese ports increased 55,000 wmt from September 4 to 8.91 million wmt as of September 11, showed SMM data.

time

Sep 11, 2020 17:29

Nickel ore inventories at Chinese ports rose 55,000 wmt to 8.91 million wmt

SMM Events & Webinars

Oct
09
- NET ZERO EUROPE - Solar & Energy Storage Summit
  Oct 09 - 10,2024
  THE EGG BRUSSELS, BELGIUM
Oct
08
- 2nd Li-ion Battery Europe 2024
  Oct 08 - 10,2024
  THE EGG BRUSSELS, BELGIUM
Jun
24
- 2024 Global Renewable Metal Industry Chain Summit
  Jun 24 - 25,2024
  To foster international cooperation and dialogue among industry colleagues
  Kuala Lumpur , Malaysia

MOST POPULAR

1.Benchmarking Analysis Of the Development Direction Of MHP And Nickel Matte

2.Technical Due Diligence Survey Of Nickel Product Unit

3.Long-term Price Forecast Of Nickel Industry

4.Feasibility Study Of Nickel Industry Investment

5.Indonesia Ni Industry Analysis

Shanghai Metals Market

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

Drop us a line

service.en@smm.cn

How can we help you?

+86 021 5155-0306

Live chat via WhatsApp

Copyright © 2024 SMM Information & Technology Co., Ltd. All rights reserved.