SMM April 21 Shanghai Nickel spot Daily Review

SMM, 21 April:

Today, SMM1 electrolytic nickel quoted 100500-102200 yuan / ton, the weakening of crude oil caused market panic, nickel prices in the morning market back to 100, 000 above the shock. Spot aspect, Russia nickel to Shanghai nickel 2006 contract report 150 to paste 100 yuan / ton, the discount rate is more stable than yesterday, today's downstream is still holding wait and see on demand, the transaction has not improved. Jinchuan nickel to Shanghai nickel 2006 contract rose 800-1000 yuan / ton, Jinchuan company Shanghai ex-factory price 101800 yuan / ton, the same as yesterday. Although yesterday's low water supply into the market, but today Jinchuan nickel rising water has not been significantly reduced. On the one hand, due to the market merchants wait and see Jinchuan company ex-factory price adjustment, not in a hurry to ship, on the other hand, most traders still have a certain high-cost inventory, price reduction willingness and space is limited. Today, Jinchuan nickel in Shengshui 800 yuan / ton has a certain transaction, Gaoshengshui quotation is more difficult to ship. Nickel beans reported 600 yuan / ton to the Shanghai Nickel 2006 contract today, and it is reported that the transaction is also on the weak side.

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