[SMM Express] more than 10, 000 tons more! LME nickel stocks are up 16 per cent today

SMM12, 11 Dec: on December 11, LME nickel stocks continued to rise significantly by 13254 tons, or 15.87 percent, to 96774 tons.

By the end of the day, the Shanghai nickel contract closed at 107990 yuan / ton, up 2.4% during the day, and rose to 108180 yuan / ton at one point, the highest level since December 3.

Spot transactions, today SMM1 electrolytic nickel quoted 107850-111850 yuan / ton, the average price of 109850 yuan / ton, 1050 yuan / ton higher than yesterday. A large number of positions in Lunni yesterday, further pressure on nickel prices, but the long position caused an unexpected rise in the night market, today's main contract maintained at 107000 above the shock finishing. Spot water does not accidentally continue to decline, the morning Russian nickel quotation generally reached 600 yuan / ton, but the downstream demand release is light, the transaction is not easy, the industry also thinks that if the actual transaction price will be lower than the secondary water ping. Jinchuan Shengshui also due to poor shipments significantly downward, today generally quoted in 4600-4700 yuan / ton near. Nickel beans on Wuxi plate 1912 is still 1000 yuan, converted to Shanghai nickel 2001 discount at about 5000 yuan, traders are difficult to ship. December 11 jin Sichuan Electrolytic Nickel (Big Board) Shanghai offer 111200 yuan / ton, barreled small pieces 112400 yuan / ton, up 700 yuan / ton from December 10.

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