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Today's nickel market (10.30) discount continues to expand the market trading is very bleak
Oct 30,2019 14:04CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

[price of SMM nickel products on 30 October]

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[30 October SMM Nickel Market Trends]

Electrolytic nickel

Spot: today, October 30, Russia nickel than Shanghai nickel 1911 discount 500 to discount 400, Jinchuan nickel than Shanghai nickel 1911 contract general discount 300 to 200 yuan / ton, discount continues to expand slightly from yesterday. First, because the contracts of Shanghai Ni 1911 and Shanghai Ni 1912 are still hanging upside down at 3000 yuan / ton, the holders have postponed the backward movement of the contract one after another, and ordered the shipment on Shanghai Ni contract 1911 as far as possible, and the second is that the price remains volatile above 136000. The demand is very weak, and the shippers have downgraded the water shipment one after another, and there is basically no transaction in the morning inquiry stage, and some of the holders continue to lower the water supply to stimulate spot transactions, but the effect is very small. Delivery of nickel plates by shippers is expected to increase in November compared with October. The ex-factory price of Jinchuan Company is 135600 yuan / ton, down 2000 yuan / ton from yesterday.

[ex-factory price of Jinchuan Company] on October 30, Jinchuan Company quoted 135600 yuan / ton for electrolytic nickel (big board) in Shanghai and 136800 yuan / ton for barreled pieces, 2000 yuan / ton lower than yesterday.

Stainless steel, scrap stainless steel

SMM, October 30 / PRNewswire-FirstCall-Asianet /-- this morning in Wuxi, Wuxi quoted the price of state-owned 304 2B trimming volumes at 16000-16100 yuan per ton, and private 304 2B rough edges at 15650-15750 yuan per ton. 304 / NO. 1 five feet at 14900-15000 yuan / ton. Spot prices are still supported by costs, and steel mills are offering high prices. Wuxi stainless steel prices are weak and stable operation, near the end of the month quotations are mainly flat, but also reduce prices to promote transactions, the market atmosphere is still light trading. For 10:30 SHFE SS2002 contract selling price 15015 yuan / ton, Wuxi stainless steel spot water 505-605 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

Foshan stainless Steel Morning Review] SMM October 30, 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 slightly higher than yesterday's average price by 50 yuan / ton; today's 304 / NO. 1 five feet roll price is 15000 yuan / ton compared with yesterday; in addition, the 201th cold rolled rough edge roll price on today's market continues to drop 50 to 7900 yuan / ton. This morning 201 cold rolling prices continued to weaken, at the end of the month many businesses actively let profit out of goods, and 300 series cold rolling market overall quotation stable in a small increase, but the actual transaction depends on the specific profiles and specifications. For 10:30 SHFE ss2002 contract selling price 15015 yuan / ton, Foshan stainless steel spot water 455-655 yuan / ton (spot edge cutting = rough edge + 170 yuan / ton)

SMM, Oct. 29 / PRNewswire-FirstCall-Asianet /-- the price of stainless steel waste is stable as a whole, with 304 waste stainless steel edge material, quoted at 10200-10400 yuan / ton; 201 waste price quoted at 4250-4350 yuan / ton, and 430 waste quoted at 3700-3750 yuan / ton, the prices are the same as yesterday and have not fluctuated compared with last Friday. Some traders have indicated that the waste market at present has relatively few resources compared with the same period last year. Now the market demand for stainless steel products is general, and it is expected that the waste market will run smoothly.

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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Nickel market
output
electrolytic nickel
stainless steel

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