Nickel market (10.28) discount continues to expand pure nickel transaction has not improved

[price of SMM Nickel products]

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[28 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: on October 28, Russia nickel compared with Shanghai nickel 1911 discount 1911 to discount 300, Jinchuan nickel than Shanghai nickel 1911 contract generally discount 1911 to 1911 yuan / ton, the discount continued 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.

[ex-factory price of Jinchuan Company] on October 28, Jinchuan Company quoted 135500 yuan / ton for electrolytic nickel (big board) in Shanghai and 136700 yuan / ton for barreled pieces, 700 yuan / ton lower than last Friday.

Stainless steel, scrap stainless steel

SMM, Oct. 28 / PRNewswire-Asianet /-- this morning, Wuxi quoted prices of 16000-16200 yuan / ton for state-run 304 2B edge cutting volumes and 15700-15900 yuan / ton for private 304 2B rough edge volumes. 304 / NO. 1 five feet at 14900-15000 yuan / ton. Morning market quotation is generally flat on Saturday, individual businesses cut prices to promote transactions, most of them are mainly high prices, the market atmosphere is light. For 10:30 SHFE SS2002 contract selling price 14940 yuan / ton, Wuxi stainless steel spot water 930-1130 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

[Foshan stainless Steel Morning Review] SMM October 28-the morning Foshan stainless steel market state-owned 304 2B trimming volume price was flat at 15950 yuan / ton compared with last Friday; private 304 2B rough edge roll price was stable at 15650 yuan / ton compared with yesterday's average price; today's 304 / NO. 1 five-foot roll price was stable at 15100 yuan / ton compared with last Friday's average price. This morning Foshan cold, hot rolling market quotation is more stable than last Friday's average price, some businesses said that the transaction small margin 50, the overall transaction atmosphere at the beginning of the week is calm. For 10:30 SHFE ss2002 contract selling price 14940 yuan / ton, Foshan stainless steel spot water 480-680 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

Inventory

On October 25th, according to SMM, the total amount of nickel stocks in Shanghai, including the inventory of previous warehouse receipts, was down 547 tons to 74400 tons, or 0.7 per cent, from last week. Domestic stocks rose 1400 tons to 54400 tons from last week, including about 11800 tons of nickel beans and 42600 tons of nickel plates. During the same period, the stocks of refined nickel in Shanghai Free Trade Zone (including Shanghai Shitianwei, Lizitang, Lingang, Jiekai and Henry Bath)) were about 20100 tons, 1900 tons less than last week, of which 5100 tons were nickel beans, 400 tons less than before the festival.

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