SMM October 22 Shanghai Nickel spot Newsletter

Published: Oct 22, 2019 11:58 (GMT+8)

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SMM, 22 Oct:

Today, Russian nickel is 100 yuan higher than Shanghai nickel 1911 to 200 yuan / ton, and Jinchuan nickel is generally 400-500 yuan / ton higher than Shanghai nickel 1911 contract. The rising water in Jinchuan, Russia is generally lower, mainly due to the recent large price difference between Shanghai nickel and Wuxi nickel. Wuxi nickel was about 10,000 lower than Shanghai nickel on Monday, stimulating steel mills to purchase nickel beans without tin plates, and the demand for nickel plates has been significantly suppressed. Today, the nickel price opened lower, Wuxi and Shanghai nickel price difference has been repaired, but it is still more than 7000 yuan / ton, nickel bean transaction is better than nickel plate, but because the mainstream traders quoted nickel in Shanghai, the Shanghai spot market trading is very light. The ex-factory price of Jinchuan Company is 129500 yuan / ton, 1000 yuan / ton higher than yesterday.

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