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SMM April 24 Shanghai Nickel spot Daily Review
Apr 23,2020 17:16CST
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Source:SMM
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SMM, 24 April:

Today, SMM1 electrolytic nickel quoted 98850-100650 yuan / ton, due to overnight US crude oil price rebound, macro mood repair, Shanghai nickel rushes down this morning, rose again in the afternoon. The spot market as a result of higher prices, transactions significantly weakened. Russian Nickel to Shanghai Nickel 2006 contract application of 50 yuan / ton to flat, flat compared with yesterday; many downstream has been replenished yesterday, today's weak willingness to receive goods. Jinchuan nickel to Shanghai nickel 2006 contract rose 1300-1400 yuan / ton, after today's price rebound, Jinchuan Shengshui is still higher, mainly due to active nickel transactions in Jinchuan yesterday, many holders have finished inventory, at the same time, manufacturers have not arrived in Shanghai in the past two days, the supply is tight. Today, nickel beans reported 700 yuan / ton to Shanghai Nickel 2006 contract.

 

 

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