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[nickel Market Today] Shanghai Nickel returns to the upper and lower reaches of 100000 to continue to wait and see if trading is suppressed.
Apr 24,2020 13:33CST
The content below was translated by Tencent automatically for reference.

April 24 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 24 SMM Nickel Market Trends

Electrolytic nickel and nickel ore

Nickel spot: SMM April 24: today SMM1 electrolytic nickel quoted 100650102350 yuan / ton, the average price increased by 1750 yuan / ton. Russian nickel to Shanghai nickel 2006 contract reported to Pingshui 100 yuan / ton, the early market nickel price rose back to 100000 above, some in the market down to 100000 yuan / ton has a small number of shipments, but there are still some cardholders reported in flat water because of the cost, the transaction situation is light. Jinchuan Nickel to Shanghai Nickel 2006 contract rose 1300-1400 yuan / ton, due to manufacturers in Shanghai area out of stock, Jinchuan nickel downgrade space is limited, inquiry and transaction situation is also not good. Other brand nickel plate situation, today Sumitomo nickel newspaper water rose 1100-1200 yuan / ton, Bofeng nickel newspaper post 300-200 yuan / ton or so. Nickel beans to Shanghai Nickel 2006 contract affixed 700 yuan / ton. Overall, prices rose for two days in a row, more wait-and-see downstream, spot trading was suppressed.

[ex-factory price of Jinchuan Company] SMM April 24: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 102000 yuan / ton, barreled small piece 103200 yuan / ton, Jinchang quoted 101550 yuan / ton, 1500 yuan / ton higher than yesterday.

SMM4, 24 Jun: this morning, Philippine President Rodrigo Duterte (Rodrigo Duterte) ordered the extension of the strengthened community quarantine, including Manila Metropolis, Central Luzon and Karabasson, until May 15. The central region of Luzon includes (Zambales), three Chillis provinces. As one of the main mining areas in the Philippines, Zambales is mainly medium and high nickel mine, but the shipment volume in this area is relatively small, which is expected to affect the export volume of 2-3 ships. The rest of the mining area is not within the scope of this extension, if there are no new regulations, according to the new document, may be normal shipment from May 1.

SMM4, April 24: Indonesia will ban all domestic air travel from April 24 to June 12 and all domestic sea travel from April 24 to June 8, according to Indonesian Ministry of Transport officials. The restriction does not include the transport of goods and has no impact on Indonesian nickel and iron exports for the time being.

SMM, April 23 / PRNewswire-FirstCall-Asianet /-in order to further promote the cooperation between Greenmei Co., Ltd. And Korea ECOPRO Co., Ltd in the business of NCA&NCM high nickel precursor materials for new energy power batteries, Fuan Qingmei Energy Materials Co., Ltd., a subsidiary of the company, and ECOPRO recently signed an investment memorandum of understanding (MOU) on the cooperation of NCA&NCM high nickel precursor materials for new energy power batteries. The joint venture company focuses on the production of high nickel precursors NCA and NCM, with a production target of 24000 tons in 2022 and 48000 tons in 2024.

Stainless steel

[Foshan stainless Steel Meridian Review] SMM April 24: Foshan steel prices as a whole compared with the beginning of the week there is a small correction trend, but as of Friday steel prices are flat, most businesses to actively stock and shipment, most of the steel prices in the short term stable mentality. Although most traders are slightly busy receiving orders at present, it is still difficult to judge whether the trading volume required in the later stage can support the stability of steel prices. Foshan area steel quotation, the state-owned 304 2B trimming volume price is more stable than yesterday's average price at 13500-13700 yuan / ton, private 304 2B rough edge roll price is more stable than yesterday at 13000-13200 yuan / ton, 304 / NO. 1 five feet quotation is stable at 12600-12800 yuan / ton, the 10:30 SHFE SS2006 contract selling price 12965 yuan / ton, Foshan stainless steel spot water 205405 yuan / ton. (spot trimming = rough edges + 170).

SMM, April 24 / PRNewswire-FirstCall-Asianet /-Today, the cold and hot rolling prices of 304stainless steel in Wuxi are stable, with 304cold rolling prices of 1290013300 yuan / ton and 304 hot rolling prices of 1270012,900 yuan / ton, all the prices are the same as yesterday. Today, the price was lowered by 100 yuan / ton, and the average price was quoted at 7050 yuan / tonne. According to the report of traders, there is a large supply of goods in the 400 series market, and the price continues to weaken. Today, stainless steel prices remained stable as a whole, but some traders still slightly reduced 50-100 yuan / ton to explore the market to promote the pick-up of goods, but most of them waited and saw downstream at the end of the month. Subsequent stainless steel prices are expected to run steadily. For 10:30 SHFE SS2006 contract price 12965 yuan / ton, Wuxi stainless steel spot water 105-505 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

[SMM Steel Plant guidance Price] SMM April 24: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is down 150-300 yuan / ton compared with 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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