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[SMM Express] LME Nickel stocks are down more than 3,000 tons today and continue to brush at a record low for many years.
Oct 25,2019 16:55CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM10 25: Shanghai nickel high open today, as of October 25 day close, Shanghai nickel main contract 1912 closed at 133340 yuan / ton, an increase of 1.1%. Intraday trading rebounded to 134700 yuan / ton, the highest since October 15. Lunni rebounded in the afternoon after falling in the morning, rising nearly 0.1 per cent to $16880 a tonne by around 16:45.

On the inventory side, LME nickel stocks fell another 3042 tons to 76758 tons today, continuing their multi-year record low, according to LME data. LME nickel stocks have continued to decline since September 27, down 51 per cent as of October 25.

In terms of spot, today Russia nickel than Shanghai nickel 1911 discount 1911 to 150 yuan / ton, Jinchuan nickel than Shanghai nickel 1911 contract general discount 150 yuan / ton to flat water. Russian nickel Jinchuan rising water continues to decline, mainly due to the continuation of the previous phenomenon, Shanghai nickel and Wuxi nickel price difference is large, stimulate steel mills to purchase nickel beans in Wuxi plate, nickel plate demand is restrained, Shanghai spot market is weak. Second, nickel prices rebounded in the second half of the week after a high shock, curbing spot trading. And Jinchuan company recently high active shipment, some traders can discount Jinchuan, but because downstream demand has been depressed, Jinchuan nickel discount transaction phenomenon. The ex-factory price of Jinchuan Company is 136200 yuan / ton, 1700 yuan / ton higher than yesterday. Today Jinchuan Company electrolytic nickel (big board) Shanghai offer 136200 yuan / ton, barreled small pieces 137400 yuan / ton, 1700 yuan / ton higher than yesterday.

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