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SMM October 28 Shanghai Nickel spot Newsletter
Oct 28,2019 12:00CST
The content below was translated by Tencent automatically for reference.

SMM, 28 October:

Today, Russia nickel than Shanghai nickel 1911 discount to 300, Jinchuan nickel compared with Shanghai nickel 1911 contract general discount 1911 to 1911 yuan / ton, discount continues to expand compared with last week. First, due to the Shanghai Nickel 1911 and Shanghai Nickel 1912 contracts hanging upside down about 3600 yuan / ton, the holders have postponed the backward movement of the contract one after another, trying to ship as much as possible on the contract 1911. Second, as far as possible, the transaction is as weak as possible, and the market demand is less. In the morning, Shanghai nickel continued to rise to 137000 yesterday after falling, to the daily average line near 136300 after a brief consolidation, the market is mostly on the sidelines, fewer buyers into the market. Subsequently, Shanghai nickel continued to callback, to 135500 after the rebound, there is still no action downstream, there is no improvement in the transaction. Jinchuan's ex-factory price is 135500 yuan / ton, 700 yuan / ton lower than last Friday.

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