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[nickel Market Today] Macro-positive to stimulate Shanghai Nickel to return to 97, 000 spot Water difficult to lower trading light
Apr 10,2020 14:16CST
Today, Electrolytic Nickel SMM1 offers 97100-99000 yuan per ton.
The content below was translated by Tencent automatically for reference.

[10 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).

[10 April SMM Nickel Market Trends]

Electrolytic nickel

Spot: SMM April 10: today SMM1 electrolytic nickel quotation 9710099000 yuan / ton. As the Federal Reserve announced a new round of large-scale stimulus package, European and American stock indexes rose sharply last night, while easing policies made precious metals more popular. LME closed today, and Lunni closed at $11700 / tonne. Many advantages stimulated Shanghai Nickel to quickly pull up after the opening of trading today, re-standing above the 97000 yuan / tonne line. The sharp rise in nickel prices has dampened downstream demand to some extent, with transactions slightly light in the morning market. Russian nickel to Shanghai nickel 2005 contract reported 50 to up 50 yuan / ton, due to different insurance costs, the willingness of market operators to lower the rising water is lower, the morning market transaction situation is relatively weak; Jinchuan nickel to Shanghai nickel 2005 contract rose 1400-1500 yuan / ton, it is reported that 1400 yuan / ton has a small number of transactions. Recently, the demand for Jinchuan nickel is relatively weak, but because the cost of traders receiving goods from manufacturers is still high, the increase of 1400 yuan / ton is already the biggest profit for the holders. It is expected that the Jinchuan nickel rise in the short-term market will not be further reduced.

Jinchuan Company ex-factory price] SMM April 10: Jinchuan Company Electrolytic Nickel (big board) Shanghai offer 98800 yuan / ton, barreled small pieces 100000 yuan / ton, Jinchang quoted 98350 yuan / ton, 2300 yuan / ton higher than yesterday.

Nickel sulfate

SMM, April 9 / PRNewswire-Asianet /-in March, China's nickel sulfate production increased by 62.39% month-on-month, down 14.72% from the same period last year, and the total demand for nickel sulfate increased by 36% over the previous month, and decreased by 22% over the same period last year. Among them, the total nickel sulfate consumption of new energy batteries increased by 62% month-on-month. SMM expects domestic nickel sulfate production to increase slightly in April, and downstream demand continues to weaken.

Stainless steel, scrap stainless steel

SMM, April 10 / PRNewswire-FirstCall-Asianet /-Today, the private cold rolling in Wuxi area increased slightly by 50 yuan / ton to 12150-12450 yuan / ton, and both hot rolling and state-run cold rolling held steady. 304 2B state-run trimming coil prices were quoted at 12800-13200 yuan / ton and 304 hot rolling prices were quoted at 11750-11950 yuan / ton. Yesterday afternoon, Castle Peak 300 series stainless steel seal, then, businesses slightly up to test the market, on the other hand, stainless steel SS2006 contract futures prices this week showed a strong trend, today from the spot of the continuous discount state to flat to rising water, therefore, traders also have a high price mentality. But most of the market supply, traders said that now stainless steel prices just stop falling and stabilizing, the extent of the increase will still give way when the actual transaction. For 10:30 SHFE SS2006 contract price 12390 yuan / ton, Wuxi stainless steel spot water-70-230 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

SMM, April 10 / PRNewswire-FirstCall-Asianet /-due to the suspension of orders by steel mills, individual agents in the Foshan market have not quoted prices for the time being, so there is a strong atmosphere for adjusting the market price of private 300series cold rolling in the market, with an increase range of 50100 yuan / ton. However, some traders said that the current price adjustment has not stimulated downstream demand, and steel prices are expected to remain stable next week. Today, Foshan area steel quotation, the state-owned 3042B trimming volume price is stable at 13000-13300 yuan / ton compared with yesterday's average price, private 3042B rough edge roll price is 100 yuan / ton higher than yesterday's average price is quoted at 12200-12400 yuan / ton, 304 / NO. 1ft quotation is more stable than yesterday's offer at 11700-11900 yuan / ton, the 10:30 SHFE SS2006 contract selling price is 12390 yuan / ton, Foshan stainless steel spot discount 20-liter 180 yuan / ton. (spot trimming = rough edges + 170).

[SMM Steel Plant guidance Price] SMM April 9: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price was partially reduced by 100200 yuan / ton compared with yesterday.


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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