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[nickel Market Today] long position reduction Shanghai Nickel retreats downstream of 60-day moving average to continue to wait and see the improvement of trading is limited

iconApr 21, 2020 14:10
Source:SMM
Today, SMM1 Electrolytic Nickel offer 100500-102200 yuan / ton, Shanghai nickel in the morning market back to the 60-day moving average above shock.

[21 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 21 SMM Nickel Market Trends]

Electrolytic nickel and nickel pig iron

Nickel spot: SMM April 21: today SMM1 electrolytic nickel offer 100500-102200 yuan / ton, Shanghai nickel in the morning market back to the 60-day moving average above shock. Russian nickel to Shanghai Nickel 2006 contract report 150 to 100 yuan / ton, the discount range is more stable than yesterday, only a small number of downstream receiving goods, transaction improvement is limited. Jinchuan nickel to Shanghai nickel 2006 contract rose 800-1000 yuan / ton, although yesterday low water supply into the market, but today Jinchuan nickel rising water has not been significantly reduced, on the one hand, because in the morning market merchants mostly wait and see Jinchuan company to adjust prices, not in a hurry to ship, on the other hand, most traders still have a certain high-cost inventory, willingness to reduce prices and limited space. This morning, Jinchuan Nickel Shengshui 800 yuan / ton has a small number of transactions, Gaoshengshui quotation is more difficult to ship. Jinchuan Company Shanghai ex-factory price of 101800 yuan / ton, compared with yesterday's flat, Shanghai area has goods for sale.

[ex-factory Price of Jinchuan Company] SMM April 21: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 101800 yuan / ton, barreled small piece 103000 / ton, Jinchang quotation 101350 yuan / ton, the same as yesterday.

SMM4 21: a stainless steel factory in East China today high nickel pig iron inquiry price 960 yuan / nickel point (to the factory including tax), did not know the transaction situation.

Stainless steel

Foshan area stainless Steel Meridian Review] SMM April 21: today Foshan 200 series and 300 series cold and hot rolled steel prices as a whole up atmosphere, in the current market mainstream steel mills significantly pulled up, stainless steel price inquiry and the actual transaction has improved, some traders said that the current steel prices have been supported by price increases, individual model inventory is not much, short-term steel prices are expected to be stable in a small increase. Foshan area steel quotation, the state 3042B trimming volume price increased by 150 yuan / ton compared with yesterday's average price of 13450-13650 yuan / ton, private 3042B rough edge roll price increased by 250RMB / ton from yesterday to 13000-13200 yuan / ton, 304 / NO. 1 five feet quote increased 250 yuan / ton in 12700-12800 yuan / ton, the 10:30 SHFE SS2006 contract price of 13155 yuan / ton, Foshan stainless steel spot rose 15-215 yuan / ton (spot trimming = rough edges + 170).

SMM, April 21 / PRNewswire-FirstCall-Asianet /-the average price of private cold rolling in Wuxi is up to 13100-13300 yuan / ton, and that of hot rolling is 12800-13000 yuan / ton, with an average price increase of 150yuan / ton. Prices continue to weaken, today quoted 7100-7300 yuan / ton, there are individual low prices can be quoted to 7000 yuan / ton shipment. Traders said that transactions in the past two days than before a slightly weaker trend, but at present some 304 stainless steel spot resources are on the low side, prices continue to be strong. According to research and understanding, Hongwang cold rolling part of the thickness resources are out of stock, the market Delong supply is more, but also still raising the price. At present, the spot circulation of some specifications is still limited, and the price of stainless steel is expected to remain strong. For 10:30 SHFE SS2006 contract price 13155 yuan / ton, Wuxi stainless steel spot water 115-315 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

[SMM Steel Plant guidance Price] on April 21, the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. is up 200-400 yuan / ton compared with yesterday.

SMM April 20: Qingshan 304 hot rolling June narrow strip sales price of 12400 yuan / ton, quoted volume to be approved; Qingshan 304 hot rolled plate sales price of 12700 yuan / ton; the above price rose by 300 yuan / ton.

[stainless steel plate price-Yongjin 304 cold rolling] SMM April 20: Fujian Yongjin 304 four-foot cold rolling sales guidance price of 12900 yuan / ton, Guangdong Yongjin five-foot 304 cold rolling sales guidance price of 13000 yuan / ton. Compared with the last opening, up 300 yuan / ton. The quantity is pending approval.

Stock

Domestic pure nickel stocks (including bonded areas) fell 1536 tons to 55463 tons, or 2.69 percent, from last week (April 10), according to SMM research. Among them, some nickel plates in the bonded area are out of the warehouse, but they have not yet flowed into China, and about 200 tons of nickel beans have flowed into the hidden warehouse in East China. On the aspect of the bonded area, it has been continuing the trend of lowering the warehouse since February, falling 179 tons this week. Jinchuan Company actively shipped this week, Jinchuan nickel transactions warmed up, and Russian nickel also had a certain out of stock. Nickel beans in and out of the recent offset, inventory is still maintained at about 2000 tons; East China recessive inventory fell by 657 tons as a whole.

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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