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SMM April 23 Shanghai Nickel spot Newsletter
Apr 23,2020 11:54CST
The content below was translated by Tencent automatically for reference.

SMM, 23 April:

Today, SMM1 electrolytic nickel quoted 98850100650 yuan / ton, due to overnight US crude oil price rebound, macro emotional repair, today's Shanghai nickel opened higher 60-day moving average pressure fell back, but the nickel price center of gravity is still higher than yesterday, today's spot transaction significantly weakened. Russian nickel to Shanghai Nickel 2006 contract 50 yuan / ton to flat, flat compared with yesterday, many downstream yesterday to replenish the warehouse, today's weak willingness to receive goods. Jinchuan nickel to Shanghai nickel 2006 contract rose 1300-1400 yuan / ton, after the price rebound, Jinchuan Shengshui is still higher, mainly due to the active transaction of Jinchuan nickel yesterday, many holders have finished inventory, at the same time, the manufacturers did not arrive in Shanghai in the past two days, the supply is tight. Nickel beans to Shanghai Nickel 2006 contract reported 700 yuan / ton.



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