Nickel price fell more than expected in nickel market (12.04) today. Stainless steel agents continued to lower their quotations.

[4 December SMM Nickel Product Price]

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[4 December SMM Nickel Market Trends]

Electrolytic nickel

Spot: [nickel prices continue to fall spot resources circulation less rising] SMM December 4: today's No. 1 electrolytic nickel quoted 106400-110100 yuan / ton, the average price of 108250 yuan / ton, 3300 yuan / ton lower than yesterday. Yesterday's night short position, nickel prices continue to fall below the support level. The rising water of Russian nickel and Jinchuan nickel has moved up, mainly due to the poor performance of nickel spot trading in the early stage, which affects the traders' intention to pick up the goods, and the recent downstream replenishment demand is relatively smooth, so that the negotiable supply of goods in the field appears to be tight. The water of Russian nickel is 1500-1700 yuan / ton higher than that of Shanghai nickel 2001, and that of Jinchuan nickel is 5000-5600 yuan / ton higher than that of Shanghai nickel 2001. After the morning concentrated trading hours, the rising water still has an upward trend. Russian nickel bidders try to quote 1800-2000 yuan / ton, Jinchuan tries to quote as high as 6000 yuan / ton, but the situation of quoting high prices is also related to their own spot surplus, not in a hurry to ship, the actual transaction rhythm in the field is relatively rational. Nickel beans to Shanghai Nickel 2001 quotation around the discount of 4500 to 3500 yuan / ton. Jinchuan nickel board ex-factory price (Shanghai) 110000 yuan / ton, 3000 yuan / ton lower than yesterday.

Nickel pig iron

[nickel price is difficult to stabilize Indonesia nickel iron influence geometry] SMM December 4 high nickel iron price 1010 yuan / nickel point (ex-factory), down 15 yuan / nickel point from yesterday. The Indonesian nickel iron quotation in circulation on the market this week was lower than the domestic market price, falling below the 1000 yuan mark, but because the nickel price and the stainless steel price were temporarily difficult to stabilize, coupled with the need for funds to be recovered at the end of the year, the intention of purchasing raw materials for stainless steel plants was still weak, and there was no deal for the time being. A small number of domestic nickel and iron plants in line with the market to cut prices, the current domestic high nickel iron prices still have a weakening trend, there is no stainless steel factory inquiry purchase this week.

Stainless steel

SMM, December 4 / PRNewswire-Asianet /-this morning in Wuxi, Wuxi quoted the price of state-owned 304 2B trimming volumes at 15100-15300 yuan per ton, and private 304 2B rough edges at 14500-14600 yuan per ton. 304 / NO. 1 five feet at 13400-13500 yuan per ton. Morning market quotation private hot rolling prices down 100 yuan / ton, cold rolling quotations are flat, the recent arrival of steel mills, superimposed nickel prices are weak, stainless steel prices are difficult to stabilize. For 10:30 SHFE SS2002 contract selling price 13910 yuan / ton, Wuxi stainless steel spot water 760-860 yuan / ton. (spot edge cutting = rough edge + 170 yuan / ton).

[Qingshan 304 hot rolling narrow strip sales guidance price] SMM December 4: Qingshan 304 hot rolling narrow strip sales guidance price quoted 13300 yuan / ton, 100 yuan / ton lower than the last price.

[Qingshan 304 hot rolled plate sales guidance price] SMM December 4: according to Foshan market news, December 4 304 hot rolled plate Qingshan agent has 13600 yuan / ton quotation appeared, the price is not steel mill price, is the agent price.

[Foshan stainless Steel spot Morning Review] SMM December 4: this morning Foshan area quotation: state-owned 304 2B trimming volume price 1535015550 yuan / ton, private 3042B rough edge roll price 14600-14800 yuan / ton. 304 / NO. 1 five feet at 13700-14000 yuan per ton. The price of private cold and hot rolling quoted in the morning market is slightly lower than that of yesterday by 50 yuan / ton, giving priority to profit. Some businesses in Foshan reflect that the actual transaction is not prosperous, the downstream is cautious, and it is expected that the short-term steel price will be weak. For 10:30 SHFE SS2002 contract selling price 13910 yuan / ton, Foshan stainless steel spot water 860-1060 yuan / ton. (spot edge cutting = rough edge + 170 yuan / ton).

[Hongwang East China December futures price] SMM December 4: 201j1 four-foot cold rolling 7450 yuan / ton, 201j1 five-foot cold rolling 7700 yuan / ton, 201j3 four-foot cold rolling 7250 yuan / ton, 201j2 four-foot cold rolling 7100 yuan / ton, 304ft cold rolling 14200 yuan / ton, 305ft cold rolling 14200 yuan / ton.

Baosteel Desheng's purchase price of high-carbon ferrochromium in December was 6000 yuan / 50 basis tons (including tax to factory price), down 400 yuan / 50 basis tons from November.

Stock

According to SMM research, the total amount of nickel inventory in Shanghai, including the previous warehouse receipt inventory, increased by 48 tons to 80900 tons, an increase of 0.06 percent over the previous week. Domestic stocks fell 352 tons to 64300 tons from last week, including about 11900 tons of nickel beans and about 52400 tons of nickel plates. During the same period, stocks of refined nickel in Shanghai Free Trade Zone (including Shanghai Shitianwei, Lizitang, Lingang, Jiekai and Henry Bath) were about 16700 tons, an increase of 400 tons over the previous week, of which 3900 tons of nickel beans were the same as last week.

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