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[nickel Market Today] Nickel in Shanghai Nickel Morning Market first suppressed and then raised spot water held steady and there was no improvement in transactions.
Apr 8,2020 13:49CST
The content below was translated by Tencent automatically for reference.

[8 April SMM Nickel Product Price]

SMM Ni-Cr stainless steel regular report, can receive the latest information in the morning, noon and closing time, contact: Liu Yuqiao, 15900822445 (same as WeChat).

[April 8 SMM Nickel Market Trends]

Electrolytic nickel

Spot: SMM April 8: today SMM1 electrolytic nickel quotation 93400-95300 yuan / ton. Shanghai nickel opened low in the morning market, and soon began to recover steadily, recovering all its losses before the second trading session in the morning market, and then further stabilizing on 94000 yuan / ton. In the spot market, the Russian nickel contract for Shanghai Nickel 2005 was flat to 50 yuan / ton; when the opening price of the morning market fell, some traders rose to 100 yuan / ton, and the transaction situation was relatively weak, and soon it was revised back to 50 yuan / ton. After the plate stabilized, most traders still quoted foreign prices according to yesterday's rising water, and the overall transaction situation was flat. Jinchuan Nickel to Shanghai Nickel 2005 contract rose 1600-1700 yuan / ton; this morning, the supply of low prices is less, most traders are quoted according to 1600 yuan / ton, the transaction situation has changed little compared with yesterday.

Jinchuan Company ex-factory price] SMM April 8: Jinchuan Electrolytic Nickel (big board) Shanghai offer 95300 yuan / ton, barreled small pieces 96500 yuan / ton, Jinchang quoted 94850 yuan / ton, 300 yuan / ton higher than yesterday.

Stainless steel, scrap stainless steel

Wuxi District stainless Steel Meridian Review, SMM, April 8: today, Wuxi 304 hot rolling down 50 yuan / ton, 304 / NO. 1 five feet 11750-11950 yuan / ton, 3042B rough edge volume price 12100-12400yuan / ton, the price is stable; the state-run 3042B cut edge volume price is 1290013300 yuan / ton, the average price is reduced by 100yuan / ton. Yesterday, Castle Peak cold and hot rolling sales price down 200 yuan / ton, the market hot rolling slightly fell, cold rolling, part of the agent Yongjin supply is still 12200 yuan / ton, Hongwang, Qingtuo Shangke and other sources because the market quotation is lower than the sales guidance price, the price is stable today. Traders said that in the case of lower prices, downstream more wait-and-see attitude. For 10:30 SHFE SS2006 contract price 12070 yuan / ton, Wuxi stainless steel spot water 200-500 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

Foshan area stainless steel noon review] SMM April 8: today Foshan area each department steel price appears to lower 50-100 yuan / ton again, the downstream market picks up the goods not much, according to the trader to report after the festival signs the order atmosphere is not good, the short-term steel price goes down on the weak side, although some individual specification model shipment is better, but unable to support the overall steel price to rise again. Foshan area steel quotation, state-owned 304 2B trimming volume price compared with yesterday's average price down 50 yuan / ton quoted at 13000-13300 yuan / ton, private 304 2B rough edge roll price is stable than yesterday's average price at 12100-12400 yuan / ton, 304 / NO. 1 five feet quote down 100 yuan / ton from yesterday's quotation in 11700-11900 yuan / ton, the 10:30 SHFE SS2006 contract price of 12070 yuan / ton, Foshan stainless steel spot water 200500 yuan / ton. (spot trimming = rough edges + 170).

[SMM Steel Plant guidance Price] SMM April 8: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is the same as yesterday.

[SMM stainless Steel Factory Weekly Price] SMM April 7: Dongfang Special Steel's price is mixed this week.

[SMM stainless Steel Factory Weekly Price] SMM April 7: 30430 Series stainless Steel Weekly settlement Price in Jiuquan Iron and Steel Co., Ltd.


According to SMM research, the total amount of nickel inventory in Shanghai (including the previous warehouse receipt inventory) decreased by 1183 tons to 56800 tons from last week, a decrease of 2.04%, continuing the downward trend. Domestic stocks (except bonded warehouses) are about 38200 tons, including about 2200 tons of nickel beans and 36000 tons of nickel plates. Inventories fell 443 tons earlier this week, a slowdown from last week, mainly due to the arrival of Xinjiang Bofeng nickel in Changzhou Rongda, while warehouse receipts in Shanghai remained in a state of net outflow. The hidden inventory in East China is basically flat compared with last week. On the one hand, hundreds of tons of nickel plates have been cleared into the bonded area, while Jinchuan nickel has also arrived; on the other hand, transactions on the spot market this week can be completed, and downstream purchases are picked up. As a result, the increase or decrease in hidden inventories was generally flat. Shanghai Free Trade Zone refined nickel stocks of 18600 tons, due to the impact of the foreign epidemic, fewer inbound goods, inventory decline is mostly due to the export of foreign exchange goods locked by traders last week.

Nickel Research Group of the Ministry of Nonferrous Metals

Liu Yuqiao: + 86-21-51666804 / liuyuqiao@smm.cn

Li Chuntian: + 86-21-51666817 / springli@smm.cn

Zhang Lingying: + 86-21-51666901 / zhanglingying@smm.cn

Zhao Ming: + 86-21-516666780 / tylerzhao@smm.cn

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