Home / Metal News / Nickel / Nickel prices continued to fall in the nickel market today (10.21). The spot transaction atmosphere was light and stainless steel followed suit.
Nickel prices continued to fall in the nickel market today (10.21). The spot transaction atmosphere was light and stainless steel followed suit.
Oct 21,2019 16:13CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

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[21 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: today, Russian nickel is 300 yuan higher than Shanghai nickel 1911 to 400 yuan / ton, and Jinchuan nickel is 500-600 yuan / ton higher than Shanghai nickel 1911 contract. Today, after the opening of nickel prices, quickly fell below 60 antenna support, to 128800 near to stop falling consolidation, but the market trading atmosphere is light, because the supply of negotiable goods is tight, it is difficult for traders to replenish warehouses at low prices, and downstream in the falling market, more in the wait and see. Subsequently, nickel prices continued to fall to around 127800 to stop falling fluctuations, for spot trading stimulus is limited, the whole morning market transaction atmosphere is weak. Jinchuan's ex-factory price is 128500 yuan / ton, 2800 yuan / ton lower than last Friday. The mainstream transaction is in the range of 128300 yuan / ton to 128600 yuan / ton.

[ex-factory price of Jinchuan Company] Today, Jinchuan Company Electrolytic Nickel (Big Board) Shanghai quoted 128500 yuan / ton, barreled small pieces 129700 yuan / ton, down 2800 yuan / ton from last Friday.

Stainless steel, scrap stainless steel

Foshan stainless Steel Morning Review] SMM October 21: in the morning Foshan stainless steel market state-owned 304 2B trimming volume price is stable at 16200 yuan / ton compared with last Friday's market price; private 3042B rough edge roll price is down 15550 yuan / ton from last Friday's Friday; today's 304 / NO. 1 5ft roll price is 50 lower than last Friday's average price at 15150 yuan / ton; 430 cold rolling and trimming volume price is stable at 8150 yuan / ton today. On Monday morning, Foshan cold and hot rolling market quotes have different degrees of decline, some of them sold at low prices, the overall price is expected to be weak this week. For 10:30 SHFE ss2002 contract selling price 14890 yuan / ton, Foshan stainless steel spot water 380-580 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton).

SMM, October 21 / PRNewswire-FirstCall-Asianet /-- this morning, Wuxi quoted prices of 1605016250 yuan / ton for state-run 304 2B cutting edges and 1585015950 yuan / ton for private 3042B rough edges. 304 / NO. 1 five feet at 15000-15100 yuan / ton. In the morning, the price of cold and hot rolling in Wuxi market was lower than that of last Friday, the price of cold and hot rolling fell 50 yuan / ton, the transaction was light, the downstream was more wait and see, and the short-term price was weak and stable. For 10:30 SHFE SS2002 contract selling price 14890 yuan / ton, Wuxi stainless steel spot water 780-930 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton).

[SMM stainless steel factory guidance price] Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is the same.

Inventory

According to SMM research, the total amount of nickel inventory in Shanghai, including the previous warehouse receipt inventory, was down 3503 tons to 75000 tons from last week. Domestic stocks fell 803 tons to 53000 tons from last week, including about 11700 tons of nickel beans and about 41300 tons of nickel plates. In the same period, the refined nickel inventory in the Shanghai Free Trade Zone was about 22000 tons, 2700 tons less than last week, of which 5500 tons were nickel beans, 500 tons less than before the festival.

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