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[nickel market] Nickel prices have gradually stabilized after piercing 100000. Spot trading has not yet recovered.
Apr 28,2020 15:09CST
Today, SMM1 Electrolytic Nickel quoted 99850-101850 yuan / ton, the average price rose 2050 yuan / ton yesterday.
The content below was translated by Tencent automatically for reference.

Price of SMM Nickel products on April 28

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 28 SMM Nickel Market Trends

Electrolytic nickel and nickel pig iron

Nickel spot: SMM April 28: today SMM1 electrolytic nickel quoted 99850101850 yuan / ton, the average price rose 2050 yuan / ton yesterday. The price of nickel jumped short today. At one point it bottomed out below 100000. Morning market enquiries have warmed up, but only a small number of goods downstream, the transaction situation is mediocre. Russian nickel, the morning market to Shanghai nickel 2006 contract reported 100 to flat, after the opening of the morning market, the market price fell, some traders quoted Russian nickel to rise to water quotation, but more difficult to close, as the nickel price stabilized above 100000, the quotation mostly returned to Pingshui near, and the morning market discount quotation can record a small number of transactions. Jinchuan nickel to Shanghai nickel 2006 contract rose 1300-1400 yuan / ton, downstream pick up the goods in general, the transaction of each trader is mixed, Jinchuan Shanghai ex-factory price 101600 yuan / ton, Jinchang price 101150 yuan / ton, Shanghai is still out of stock, but some traders actively receive goods in Jinchang. It is expected that in the future, if the market price rises, Jinchuan rising water may have a small downward adjustment. Nickel beans to Shanghai Nickel 2006 contract reported 700 yuan / ton.

[ex-factory Price of Jinchuan Company] SMM April 28: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 101600 yuan / ton, barreled small piece 102800 yuan / ton, Jinchang quotation 101150 yuan / ton, 2900 yuan / ton lower than yesterday.

SMM, April 27: SMM high nickel pig iron price today quoted at 950,960 yuan / nickel point (including factory tax), flat from the previous trading day. Today, the market transaction is light, stainless steel factory replenishment enthusiasm is low. Iron factory high price cherish sales sentiment is still strong, iron factory quotation has basically been to more than 950 factory, part of the iron factory quotation has exceeded 1000 yuan mark. However, the stainless steel plant has not followed the price for the time being, and the intended price is still at 960-980 yuan / nickel point (including tax). The shortage of raw materials is the main reason for the current rise in the price of nickel and iron. The Philippines is expected to gradually resume shipments in mid-May. The shortage of nickel ore may ease in June, and the price of nickel and iron appears to be strongly supported at present.

SMM4 27: at present, South Suligao has been reported to ship, May 8 will start loading. At present, no new documents have been published in North Surigao. At present, it is seen that the basic North Suligao No. 15 will gradually return to normal, but the overall shipment volume in May will have a certain impact, and shipments are expected to gradually return to normal in June.

According to customs data, the sulfate export data for March 2020 are 10000kg for Bangladesh, 18910kg for Hong Kong, 1510kg for Singapore, 9868kg for Thailand, 11565kg for Vietnam and 732kg for Taiwan.

According to customs data, the sulfate import data for March 2020 were 30063 kg for Japan, 2371 kg for Malaysia, 4172 kg for South Korea, 1613 kg for Taiwan, 40044 kg for Belgium and 45000kg for Finland.

Stainless steel, ferrochromium

Foshan area stainless Steel Meridian Review] SMM April 28: Zhouzhong South China steel market transaction performance at the end of the month, steel prices although there is a small pullback of 50 yuan / ton, but the steel factory guidance price is temporarily stable, so the market price sentiment has not decreased, but some end markets have fixed orders, the willingness to purchase before the festival is not strong, the late steel prices are mainly wait-and-see, short-term stable operation 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 3042B rough edge volume price is more stable than yesterday's average price at 1295013150 yuan / ton, 304 / NO. 1 five feet quotation is more stable than yesterday's quotation at 12600-12800 yuan / ton, the 10:30 SHFE SS2006 contract selling price 12795 yuan / ton, Foshan stainless steel spot water 325-525 yuan / ton. (spot trimming = rough edges + 170).

SMM, April 28 / PRNewswire-FirstCall-Asianet /-Today, the cold and hot rolling prices of 304stainless steel in Wuxi are stable, with 304cold rolling prices of 1280013300 yuan / ton and 304hot rolling prices of 12600-12900yuan / ton. In the past two days, the stainless steel futures SS2006 contract weakened and gradually moved to the 07 contract. The spot price is more stable, therefore the spot price difference expands slightly, the futures disk surface compared with the spot drop water expands to 200-600 yuan / ton. At present, spot transactions are on the weak side. Yesterday, Castle Peak closed, suspended the news of receiving orders, but the market reaction is stable, there is no greater volatility. For 10:30 SHFE SS2006 contract price 12795 yuan / ton, Wuxi stainless steel spot water 175-675 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

[SMM Steel Plant guidance Price] SMM April 28: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price was partially reduced by 200 yuan / ton compared with yesterday.

[steel dynamic-high carbon ferrochromium] Taiyuan Iron and Steel Group in May 2020 high carbon ferrochromium purchase price of 5700 yuan / 50 basis tons, including tax to the factory price, month-on-month increase of 250 yuan / 50 basis tons, constant procurement, delivery date is from May 15 to June 15.

SMM4, 28 March, chromium ore and ferrochromium market today remained stable, South Africa 40-42% chromium concentrate spot quotation 29-32 yuan / tonne, outer offer US $150-155 / ton; 38-40% raw ore quoted 33-35 yuan / tonne, outer offer price $155-165 / ton; Turkey 46-48% chromium concentrate quoted 40-41 yuan / tonne, outer offer price 205-210 / ton; Zimbabwe 48-50% chromium concentrate spot 34-35 yuan / tonnage, external offer price 195-205 US dollars / ton, according to individual traders indicated an increase in the number of enquiries today.


According to SMM, the total amount of nickel stocks in Shanghai, including the previous warehouse receipt inventory, was down 403 tons, or 0.73 per cent, from last week to 55000 tons. Domestic stocks (except bonded warehouses) are about 37100 tons, including about 2300 tons of nickel beans and 34800 tons of nickel plates. Inventories fell 505 tons, or 1.81%, earlier this week, with warehouse receipts reduced by warehouses in Shanghai. The hidden inventory in East China increased by 102 tons compared with last week, mainly because the stock of imported nickel beans increased to 2300 tons after the original factory was imported into the warehouse, although the imported nickel plate was put into the warehouse, the overall income was not enough to make ends meet, and the domestic nickel plate continued to be in the state of falling into the warehouse. Shanghai Free Trade Zone refined nickel inventory of 17900 tons, compared with last week, it is reported that nearly 1,000 tons of nickel plate and nickel beans to Hong Kong, but is currently in the customs import process, will not flow into the bonded area warehouse, is expected to enter East China hidden warehouse and middle storage and delivery warehouse next week.

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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