[SMM Analysis] whether the New Russian Nickel Brand can be used to gradually accumulate the Import of the Free Trade Zone from now on

SMM2, 19 March:

Yesterday's announcement: agreed to the new Russian nickel brand (Norilsk Nickel Mining and Metallurgical Public Co., Ltd. "NORNICKEL" brand electrolytic nickel-Ni 99.8, electrodeposition process) registration, can be used for delivery from now on; at the same time, one of the company's old brands of Russian nickel, (NORILSK COMBINE H-1 electrolytic nickel, will be disqualified from the registration on March 17, 2021. The announcement heralds a rapid increase in the share of new Russian nickel brands entering the Chinese market in 2020. According to the preliminary research of SMM, from the feedback of traders and manufacturers, the production process, phase and impurity content of the new brand are better than the old brand, and the replacement of the new and old nickel plate has no great influence on the production process of the manufacturer. However, due to the previous inability to deliver, the new brand of Russian nickel is mostly stored in bonded warehouses and 310 warehouses before delivery downstream. After the latest announcement of the last issue, the Russian nickel of the new brand will be consistent with the old brand in terms of market quotation and liquidity.

In addition, after entering 2020, the Russian nickel foreign trade market is very light. Due to the high cost of holding goods in the early stage of the traders, the quotation of US gold warehouse receipts was also raised immediately after the Spring Festival, exceeding US $200 / ton, resulting in no market for foreign trade in the bonded area. It is reported that recently, some traders and the Russian side have signed this year's long agreement, the new shipment is mostly the new brand of Russian nickel. With the arrival of long-term goods after the storage, stacked with the domestic consumption of Russian nickel, the import window may gradually open in the near future.

"Click to see details: notice of consent to Norilsk Nickel Mining and Metallurgy Public Co., Ltd. To cancel the registered Brand qualification of" NORILSK COMBINE H-1 "Electrolytic Nickel

"Click to view details: previous issue: agree to Norilsk Nickel Mining and Metallurgy Public Co., Ltd." NORNICKEL "brand electrolytic nickel registration

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