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Today, nickel market (10.22) nickel iron stainless steel continue to weaken nickel bean transaction active
Oct 22,2019 13:42CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

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[22 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: [Wuxi Shanghai nickel price difference is large Wuxi plate nickel bean transaction is active] on October 22, Russian nickel compared with Shanghai nickel 1911 reported water 100 to 200 yuan / ton, Jinchuan nickel generally increased water 400-500 yuan / ton compared with 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.

[ex-factory price of Jinchuan Company] Today, Jinchuan Company Electrolytic Nickel (Big Board) Shanghai quoted 129500 yuan / ton, barreled small pieces 130700 yuan / ton, 1000 yuan / ton higher than yesterday.

Nickel pig iron

[the focus of negotiations in the high-nickel pig iron market continues to weaken] on October 22, SMM 8-12% high-nickel pig iron (ex-factory price) was 1160-1200 yuan / nickel point, and the average price was 15 yuan / nickel point lower than yesterday. This round of deep correction of nickel prices continues, from October 14 to now, nickel prices have fallen by more than 10000 yuan, and the average price of SMM high nickel pig iron has been reduced by 80 yuan / nickel point compared with the highest 1260 yuan / nickel point on October 11. Due to the difference between nickel and nickel-iron fundamentals, when the price rose in the early stage, the acceptance of high-nickel pig iron and nickel price by stainless steel plants was very limited, but with the help of some financial forces, the focus of market transactions still lagged behind the sharp rise in nickel price, and now the nickel price has been adjusted back sharply, coupled with the fact that large stainless steel plants in the south, which have not been procured in large quantities for a long time, continue to make price inquiries at a low price of 1180 yuan / nickel point (to the factory). Confidence in the nickel pig iron market also quickly collapsed. According to the latest situation, because the price is in a downward trend, most stainless steel plants wait and see to purchase, delay the release of demand, and reoccupy the initiative in price negotiations. For arbitrage traders, in order to seize the first opportunity to ship as soon as possible, there are many concessions to the price in the actual negotiation. Nickel pig iron plants see a serious deterioration in the market situation, most of them are difficult to have the intention to take the initiative to quote, market participants believe that even if the price falls to 1150 yuan / nickel point (ex-factory price) may also be difficult to stimulate a large number of buying, it is difficult to stop the decline in the short term.

Stainless steel, scrap stainless steel

SMM stainless steel waste price down 100 yuan / ton SMM: 304 waste stainless steel edge material price down 100 yuan / ton, quoted 10100-10300 yuan / ton; 201 waste price held steady, at 4350-4450 yuan / ton; 430 waste quoted 3700-3750 yuan / ton, the price was the same as last week. Traders said that nickel prices continued to fall, stainless steel finished products market demand is weak, the transaction atmosphere is light, waste market prices downward adjustment. A waste buyer said last week that the purchase price of a steel mill was on the low side and that it had not been shipped.

SMM, October 22 / PRNewswire-FirstCall-Asianet /-- this morning, Wuxi quoted prices of 1605016250 yuan / ton for state-run 304 2B edge cutting volumes and 15800-15900 yuan / ton for private 304 2B rough edge volumes. 304 / NO. 1 five feet at 14950-15050 yuan / ton. Nickel prices fell, dragging down stainless steel prices, demand failed to support the case, agents and traders comply with the trend, in the morning Wuxi market private cold and hot rolling fell 50 yuan / ton. For 10:30 SHFE SS2002 contract selling price 14850 yuan / ton, Wuxi stainless steel spot water 820-920 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

Foshan stainless steel morning review] SMM October 22: in the morning Foshan stainless steel market state-owned 304 2B trimming volume price fell 250 yuan / ton from yesterday's market price to 16200 yuan / ton; private 304 2B rough edge roll price today down 50 to 15500 yuan / ton from yesterday; today 304 / NO. 1 5-foot roll price continues to fall 50 times to 15100 yuan / ton compared with yesterday's average price. Foshan cold, hot rolling market quotation this morning compared with yesterday's average price continues to decline, the decline of nickel, so that the stainless steel market into a weak stage, according to SMM, the current market shipment pressure has increased significantly, it is expected that the short-term stainless steel market weak operation. For 10:30 SHFE ss2002 contract selling price 14850 yuan / ton, Foshan stainless steel spot water 420-620 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

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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