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[nickel Market Today] in the morning market, Shanghai Nickel opened high and walked low, and the spot market was on the weak side.
Apr 9,2020 14:31CST
Today's SMM1 electrolytic nickel offer 95000-96900 yuan / ton.
The content below was translated by Tencent automatically for reference.

[April 9 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 9 SMM Nickel Market Trends]

Electrolytic nickel and nickel pig iron

Spot: SMM April 9: today SMM1 electrolytic nickel offer 95000-96900 yuan / ton. In the morning market, Shanghai nickel opened high and walked low, and in the spot market, Russian nickel reported 50 yuan to 100 yuan / ton on the Shanghai nickel 2005 contract. After the opening of the morning market, the Russian nickel quotation was more chaotic, a few traders reported the discount, but the transaction was weaker. Most of the mainstream traders still continued yesterday's quotation from Pingshui to 100 yuan / ton. Today, the downstream is mostly wait-and-see, the demand is weak, the transaction situation is limited. Jinchuan nickel to Shanghai nickel 2005 contract rose 1500-1600 yuan / ton, early market transactions are also weak, some traders replenish the warehouse sporadic transactions, Shanghai supply with some relief, but from manufacturers to pick up water is still about 1500 yuan / ton, so Jinchuan Shengshui is expected to continue to hold steady in the future.

Jinchuan Company ex-factory price] SMM April 9: Jinchuan Electrolytic Nickel (big board) Shanghai offer 96500 yuan / ton, barreled small pieces 97700 yuan / ton, Jinchang quoted 96050 / ton, 1200 yuan / ton higher than yesterday.

SMM4 month 9: a large stainless steel factory in the south this week high nickel pig iron inquiry price 860-880 yuan / nickel point (to the factory including tax), according to the market understanding, the previous quotation range is 860-870 yuan / nickel point (to the factory including tax), the price is a small number of transactions, the supplier is not a production enterprise. It is understood that due to the low price of goods did not pick up a small range of inquiry prices slightly increased to 860-880 yuan / nickel point (to the factory including tax), did not know the new transaction situation.

SMM4, March 9: a large stainless steel plant in North China this week high nickel pig iron transaction price 900 yuan / nickel point (to the factory including tax), it is reported that the seller for East China large nickel and iron plant, this transaction is a single negotiated price. Compared with the last two transaction prices down 40 yuan / nickel point. However, compared with the pre-market mainstream transaction price of 880 yuan / nickel point (to the factory including tax) up 20 yuan / nickel point.

Stainless steel, scrap stainless steel

Wuxi area stainless steel noon review] SMM April 9: today, Wuxi 304private cold and hot rolling are stable 304 / NO. 1 five feet quoted average price of 11850 yuan / ton, 304 2B rough edge roll price of 12100-12400 yuan / ton; state-run 304 2B cut edge roll price of 12800-13200 yuan / ton, the average price decreased by 100 yuan / ton. 201 after cold rolling, the price was reduced by 100 yuan / ton, quoted at 6900-7100 yuan / ton. The 300 series stainless steel market transaction situation is general, the hot rolling has the partial specification supply is on the low side, the price is stronger. 200Series stainless steel due to a large supply, weak market demand, price pressure down, 201/J1 four feet of East China futures price quoted at 6650 yuan / ton, the actual transaction may still have a concession. For 10:30 SHFE SS2006 contract price 12235 yuan / ton, Wuxi stainless steel spot water 35-335 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

Foshan stainless Steel Meridian Review, SMM April 9: Foshan 200 series cold rolling continues to ship slightly downward, 300 series private cold rolling weak make-up decline, the current majority of merchants are still mainly to go to the warehouse, the transaction atmosphere within the week is light, short-term steel prices continue a weak and stable trend. Today, Foshan area steel quotation, the state-owned 304 2B trimming volume price is stable at 13000-13300 yuan / ton compared with yesterday's average price, private 3042B rough edge roll price is slightly lower than yesterday's average price of 50 yuan / ton quoted at 11700-11900 yuan / ton, 10:30 SHFE SS2006 contract selling price 12235 yuan / ton, Foshan stainless steel spot water 35235 yuan / ton. (spot trimming = rough edges + 170).

SMM4, April 9: it is understood that Foshan Chengde New Materials is wholly owned by Foshan Xiongshunda Metal Plate Co., Ltd., Foshan Chengde will operate and manage Xiongshunda 100% from April 15, with an annual production capacity of 600000 tons of continuous rolling + 50, 000 tons of single cold rolling.


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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