SMM October 29 Shanghai Nickel spot Newsletter

Published: Oct 29, 2019 11:50

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SMM, 29 Oct:

Today, Russia nickel than Shanghai nickel 1911 discount 1911 to 300, Jinchuan nickel Shanghai nickel 1911 contract general discount 1911 to 100 yuan / ton, the discount is slightly larger than yesterday. First, because the Shanghai Nickel 1911 and Shanghai Nickel 1912 contracts are still large, about 3000 yuan / ton, the holders have postponed the backward movement of the contract, try to point the price on the Shanghai Nickel contract 1911, and second, the price has rebounded, the transaction is relatively weak, and the market demand is on the low side. In the morning, Shanghai nickel rebounded after a brief consolidation around 136000, once high in the middle near 140000, although the holder actively shipped, but the actual demand is weak, the transaction is general. The ex-factory price of Jinchuan Company is 137600 yuan / ton, 2100 yuan / ton higher than yesterday.

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