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[nickel Market Today] Shanghai Nickel Chong High and fall will be weak and stable spot transactions to light Jinchuan rising water higher
Apr 23,2020 15:11CST
translation
Source:SMM
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.
The content below was translated by Tencent automatically for reference.

[April 23 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, nickel sulfate

Nickel spot: SMM April 23: today SMM1 electrolytic nickel quotation 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.

[ex-factory price of Jinchuan Company] SMM April 23: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 100500 yuan / ton, barreled small piece 101700 yuan / ton, Jinchang quotation 100050 yuan / ton, 1500 yuan / ton higher than yesterday.

SMM, April 22: during the SMM survey, it was found that some precursor plants downstream of nickel sulfate were worried about the supply of nickel sulfate raw materials. However, according to the SMM survey, it is found that nickel intermediates, which account for the largest proportion of nickel sulfate in nickel sulfate plants, have no supply problems, and there is no reduction in production of nickel intermediates expected to be sold to China in May.

Stainless steel

SMM, April 23 / PRNewswire-FirstCall-Asianet /-in the near future, individual steel mills plan to overhaul, and the overall market guidance price is temporarily stable. Among them, the spot resources of the steel plant in South China are on the low side, supporting steel prices are strong in the short term. The market price of private steel is slightly loose today, and the demand for goods downstream is not sustainable, so the support of high steel price is weak, and the short-term steel price fluctuates mainly in small and medium amplitude. Foshan area steel quotation, the state-owned 304 2B trimming volume price held stable in 13500-13700 yuan / ton compared with yesterday's average price, private 3042B rough edge roll price 50 yuan / ton in 13000-13200 yuan / ton, 304 / NO. 1 five feet quote down 100 yuan / ton in 1260012800 yuan / ton, 10:30 SHFE SS2006 contract selling price 13065 yuan / ton, Foshan stainless steel spot rose 105-305 yuan / ton. (spot trimming = rough edges + 170).

SMM, April 23 / PRNewswire-FirstCall-Asianet /-Today, the cold and hot rolling prices of 304stainless steel in Wuxi were reduced slightly. The average cold rolling price of 304stainless steel was reduced by 100yuan / ton to 1290013300yuan / ton and 304hot rolling to 1270012900yuan / ton, 100 yuan / ton lower than yesterday. At present, the spot transaction situation gradually weakens, some traders reflect, now the shipment is not smooth, lower prices to stimulate the market. Towards the end of the month, under the trend of price correction, wait and see downstream. For 10:30 SHFE SS2006 contract price 13065 yuan / ton, Wuxi stainless steel spot water 5-405 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

On April 23, the price of high carbon ferrochromium is stable all over the country. Jiuquan Iron and Steel Co., Ltd. plans to carry out annual maintenance in early May, taking turns from steelmaking to cold rolling, affecting the output of 20,000 tons and 30,000 tons, and the reduction of steel plant production affects more than 10,000 tons of ferrochromium. Inner Mongolia high carbon ferrochromium quoted 58506000 yuan / 50 basis tons, northwest 58506000 yuan / 50 basis tons, Sichuan quoted 6000-6100 yuan / 50 basis tons, East China 6100-6200 yuan / 50 basis tons; In terms of chromium ore, the price of 4648% chromium concentrate in Turkey was increased by 1 yuan / tonne, and that of 48-50% powder in Zimbabwe was increased by 0.5 yuan / tonnage.

[SMM Steel Plant guidance Price] SMM April 23: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is up 100 yuan / ton compared with yesterday.

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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