SMM October 23 Shanghai Nickel spot Newsletter

Published: Oct 23, 2019 12:00

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SMM, 23 Oct:

Today, Russian nickel rose to 150 yuan / ton compared with Shanghai Nickel 1911, and Jinchuan Nickel generally reported 200-400 yuan / ton higher than Shanghai Nickel 1911 contract. Russian nickel Jinchuan rising water continues to decline, mainly due to the recent Shanghai nickel and Wuxi nickel price difference, stimulate steel mills have no tin plate to purchase nickel beans, nickel plate demand has been significantly suppressed. As the price gap between the two markets is still large, this phenomenon is expected to continue in the near future, mainstream traders are quoted for Shanghai nickel, Shanghai spot market trading is very light. Superimposed nickel prices due to last night's Norilsk nickel industry accident rebounded, although there is a decline today, but the overall increase is still large, restraining spot trading. The ex-factory price of Jinchuan Company is 131900 yuan / ton, 2400 yuan / ton higher than yesterday.

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