SMM October 30 Shanghai Nickel spot Newsletter

Published: Oct 30, 2019 11:59

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SMM, 30 October:

Today, Russia nickel than Shanghai nickel 1911 discount to 400, Jinchuan nickel Shanghai nickel 1911 contract general discount 1911 to 200 yuan / ton, discount continues to expand slightly compared with yesterday. First, because the Shanghai Nickel 1911 and Shanghai Nickel 1912 contracts are still upside down at 3000 yuan / ton, the holders have postponed the backward movement of the contract one after another, and try to point the shipment on the Shanghai Nickel contract 1911. Second, the price remains above 136000, and the demand is very weak. The cardholders have cut down the rising water for shipment one after another. during the morning inquiry stage, there are basically no transactions, and some of the holders continue to lower the rising water to stimulate spot transactions, but the effect is very small. The volume of nickel plates delivered by holders is expected to increase in November compared with October. The ex-factory price of Jinchuan Company is 135600 yuan / ton, 2000 yuan / ton lower than yesterday.

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