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[nickel Market Today] Shanghai Nickel fell below 100000 and retreated to 40-day moving average to improve spot upgrade
Apr 22,2020 14:18CST
Today, SMM1 electrolytic nickel quotation 97200-99300 yuan / ton, due to overnight US oil fell again, pessimism heated up again, Shanghai nickel led the decline in basic metals today, soon after the opening of the dive, the morning market nickel prices are mostly in 97000-98000 yuan / ton.
The content below was translated by Tencent automatically for reference.

[April 22 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 22 SMM Nickel Market Trends]

Electrolytic nickel and nickel pig iron

Nickel spot: SMM April 22: today SMM1 electrolytic nickel offer 97200-99300 yuan / ton, due to the overnight decline in American oil, pessimism heated up again, Shanghai nickel led the decline in basic metals today, soon after the opening of the dive, the morning market nickel prices mostly in 97000-98000 yuan / ton. In the spot market, Russian nickel to Shanghai nickel 2006 contract reported 50 yuan / ton to Pingshui, 100 yuan / ton narrower than yesterday's discount range, the lower reaches of the morning market can receive goods, but traders are difficult to make up for the supply of goods at low prices. Jinchuan Nickel Shanghai Nickel 2006 contract rose 1200-1300 yuan / ton, the morning market inquiry is active, superimposed today Jinchuan Company Shanghai out of stock, so traders are more willing to rise. And Jinchuan nickel prices fell 100000 again also stimulated the downstream replenishment, the market transaction has also been significantly improved. Today, nickel bean to Shanghai nickel 2006 contract offer 700 yuan / ton, the demand is not good so that the discount is slightly lower than yesterday.

[ex-factory Price of Jinchuan Company] SMM April 22: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 99000 yuan / ton, barreled small piece 100200 yuan / ton, Jinchang quotation 98550 yuan / ton, 2800 yuan / ton lower than yesterday.

SMM4 22: a stainless steel factory in East China this week high nickel pig iron inquiry price 970 yuan / nickel point (to the factory including tax), according to the market has thousands of tons of transactions.

[SMM data] China's nickel and iron imports increased by 242.53% in March 2020 compared with the same period last year.

Stainless steel

Foshan area stainless Steel Meridian Review] SMM April 22: according to Foshan stainless steel traders said that recently the actual atmosphere of receiving orders as a whole has been gentle than last week, but 200series and 300series steel prices did not decline, the lower reaches of the terminal is still scattered order inquiry, so many businesses will actively receive orders during the market steel price increase, it is expected that there will be a small increase in the short-term steel price trend. Foshan area steel quotation, the state 3042B trimming volume price is slightly higher than yesterday's average price of 50 yuan / ton in 13500-13700 yuan / ton, private 3042B rough edge roll price increased by 50 yuan / ton to 13100-13200 yuan / ton, 304 / NO. 1 five feet quote rose 50 yuan / ton in 12700-12900 yuan / ton, the 10:30 SHFE SS2006 contract price of 12990 yuan / ton, Foshan stainless steel spot water 280380 yuan (spot trimming = rough edges + 170).

SMM, April 22 / PRNewswire-FirstCall-Asianet /-Today, the price of cold and hot rolling of stainless steel in Wuxi is weak and stable. The quotation range of 304 cold rolling is 1310013300 yuan / ton, and 304 hot rolling is quoted at 1280013000 yuan / ton. The trading situation this week is weaker than last week, and the price of stainless steel disk fell yesterday, and some businesses have cut prices slightly today. Some traders said that transaction weakness, on the one hand, due to the early downstream replenishment demand released after the current procurement enthusiasm decline; on the other hand, stainless steel prices have now risen to recent highs, some traders hold a wait-and-see attitude. For 10:30 SHFE SS2006 contract price 12990 yuan / ton, Wuxi stainless steel spot water 280-480 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

SMM4, March 21: a steel plant in the north plans to carry out annual maintenance in early May, rotating from the steelmaking-hot rolling-cold rolling process, which is expected to last about half a month, affecting the output of 20, 000 tons, 300 and 400 series products.

[SMM Steel Plant guidance Price] the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. on April 22 is the same as yesterday.


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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