Home / Metal News / Nickel / Nickel market (10.29) discount continues to expand pure nickel transaction has not improved
Nickel market (10.29) discount continues to expand pure nickel transaction has not improved
Oct 29,2019 14:23CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

[29 October SMM Nickel Product Price]

* subscribe to the SMM Ni-Cr stainless steel routine report and receive the latest information in the morning, noon and closing time. Contact: Wu Tingting, 13795448891 (same as WeChat).

[29 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: on October 29, Russia nickel than Shanghai nickel 1911 discount 1911 to discount 300, Jinchuan nickel than Shanghai nickel 1911 contract general discount 1911 to 1911 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.

[ex-factory price of Jinchuan Company] on October 29, Jinchuan Company quoted 137600 yuan / ton for electrolytic nickel (big board) in Shanghai and 138800 yuan / ton for barreled pieces, 2100 yuan / ton higher than yesterday.

Stainless steel, scrap stainless steel

SMM, October 29 / PRNewswire-FirstCall-Asianet /-- this morning, Wuxi quoted a price of 16000-16200 yuan per ton for the state-owned 304 2B edge cutting roll and 15700-15900 yuan per ton for the private 304 2B rough edge roll. 304 / NO. 1 five feet at 14900-15000 yuan / ton. By the repeated price of nickel, the morning stainless steel quotation is mainly flat, most of the price is mainly, the market atmosphere is light. For 10:30 SHFE SS2002 contract selling price 15030 yuan / ton, Wuxi stainless steel spot water 540-740 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

Foshan stainless Steel Morning Review] SMM October 29, the morning Foshan stainless steel market state 3042B trimming volume price is 15950 yuan / ton compared with yesterday; private 3042B rough edge roll price is stable at 15650 yuan / ton compared with yesterday's average price; today's 304 / NO. 1 five feet roll price is lower than yesterday's average price at 15000 yuan / ton; in addition, the 2010cold rolled rough edge roll price on the market today fell 50 times to 7950 yuan / ton. This morning 201 cold rolling quotation slightly loose, because the market to the warehouse is not obvious, most of the flexible shipment. In addition, some traders said that due to the recent increase in the volume of 300 series steel, there is a weak trend in transactions, and most of them are on the sidelines in the later stage. For 10:30 SHFE ss2002 contract selling price 15030 yuan / ton, Foshan stainless steel spot water 390-590 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.

"Click to attend the South China Metal Industry Summit for free.

Scan QR code, apply to join SMM metal communication group, please indicate company + name + main business

 

Nickel market
output

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news