[SMM Express] Nickel in Shanghai fell nearly 1% at the end of the month. Spot market trading was dismal at the end of the month.

Published: Oct 31, 2019 22:55 (GMT+8)

SMM10 31: October 31 night trading, Shanghai nickel shock slightly downward, as of about 22:45 in the evening, Shanghai nickel main contract 1912 reported 132500 yuan / ton, down nearly 1%.

In terms of spot, on October 31, Russia nickel compared with Shanghai nickel 1911 discount 1911 to discount 500, Jinchuan nickel than Shanghai nickel 1911 contract generally reported discount 1911 to 300 yuan / ton, discount continued to expand 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 goods on the Shanghai Nickel contract 1911. However, at the end of the month, the market trading was very bleak, only a small number of transactions were completed, and the holders cut down the rising water delivery one after another. in the morning inquiry stage, there were basically no transactions, and some of the holders continued to lower the discount level to stimulate spot transactions, but the effect was very small. The ex-factory price of Jinchuan Company is 136500 yuan / ton, 900 yuan / ton higher than yesterday.

A grand event for thousands of people in China's non-ferrous metal industry

Shanghai colored net (SMM) annual meeting is the annual event of the metal industry, with an annual participation scale of thousands of people, domestic and foreign metal industry people gathered together to review and summarize the experience and harvest of the year, and lay the groundwork for the production, operation and operation of the coming year.

This year's "2019 China Nonferrous Metals Industry Annual meeting and 2020 (SMM) Metal Price Forecast Conference" was jointly created by SMM and China Renewable Resources Industry Technology Innovation Strategic Alliance and Shanghai Nonferrous Metals Industry Association. At the same time, the first "China Renewable Metals Industry chain Development Summit Forum" was held, and SMM metal price forecasting conference and waste battery recycling exchange were set up for you to enjoy. From the development of non-ferrous metal market to the recycling of renewable resources, from the detailed explanation of policies and systems to the research and development of industrial chain technology.

This is not only a meeting, but also an industry exchange of information, collision thinking sparks of brainstorming!

"Click to sign up for SMM Annual meeting

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
【SMM Nickel Flash】Indonesia Nickel Ore Daily Price Update — September 22, 2026
9 hours ago
【SMM Nickel Flash】Indonesia Nickel Ore Daily Price Update — September 22, 2026
Read More
【SMM Nickel Flash】Indonesia Nickel Ore Daily Price Update — September 22, 2026
【SMM Nickel Flash】Indonesia Nickel Ore Daily Price Update — September 22, 2026
Indonesian nickel ore delivered to main Indonesian ports: 1.2% Ni: $26.5/wmt, down $0.5/wmt from the previous assessment. 1.4% Ni: $51.8/wmt, unchanged. 1.5% Ni: $58.5/wmt, unchanged. 1.6% Ni: $63.4/wmt, unchanged. Market update: Indonesia's nickel ore market remains focused on the gradual release of additional 2026 RKAB approvals. Some supplementary quotas have started entering the market, but the government has not announced a final national additional quota. Meanwhile, the revised HPM formula effective September 15 has lowered the benchmark for low-grade limonite, with 1.2% Ni HPM at $24.89/wmt, below current market prices.
9 hours ago
[SMM Nickel Market Flash] Indonesia’s IMIP RKEF Nickel Pig Iron Smelters Cut Operating Rates to Around 30%-40%
10 hours ago
[SMM Nickel Market Flash] Indonesia’s IMIP RKEF Nickel Pig Iron Smelters Cut Operating Rates to Around 30%-40%
Read More
[SMM Nickel Market Flash] Indonesia’s IMIP RKEF Nickel Pig Iron Smelters Cut Operating Rates to Around 30%-40%
[SMM Nickel Market Flash] Indonesia’s IMIP RKEF Nickel Pig Iron Smelters Cut Operating Rates to Around 30%-40%
According to SMM market research, RKEF Nickel Pig Iron smelters at Indonesia’s IMIP industrial park started reducing production today, with some production lines now operating at around 30%-40% of normal load. Market sources said El Niño-related dry conditions have reduced rainfall and tightened water availability for equipment cooling and protection. If the current operating rate persists for half a month, Nickel Pig Iron output could be reduced by around 50,000-70,000 mt on a physical tonnage basis. Actual operating rates will continue to depend on weather and water supply conditions, and SMM will continue to monitor further developments.
10 hours ago
SMM Nickel Flash: NPI Market Sentiment Mixed, Upstream Stable and Downstream Slightly Up Ahead of Holiday
11 hours ago
SMM Nickel Flash: NPI Market Sentiment Mixed, Upstream Stable and Downstream Slightly Up Ahead of Holiday
Read More
SMM Nickel Flash: NPI Market Sentiment Mixed, Upstream Stable and Downstream Slightly Up Ahead of Holiday
SMM Nickel Flash: NPI Market Sentiment Mixed, Upstream Stable and Downstream Slightly Up Ahead of Holiday
[SMM Nickel Flash] On September 22, the SMM high-grade NPI market sentiment factor stood at 1.79, up 0.01 MoM. The upstream sentiment factor for high-grade NPI was 1.84, flat MoM, while the downstream sentiment factor for high-grade NPI was 1.74, up 0.02 MoM. With the holiday approaching, trading sentiment in the NPI market diverged, as some traders opted to withhold offers and suspend quotations, with wait-and-see sentiment intensifying.
11 hours ago