SMM April 28 Shanghai Nickel spot Daily Review

Published: Apr 28, 2020 17:55

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SMM, 28 April:

Today, SMM1 Electrolytic Nickel quoted 99850-101850 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, the afternoon market transaction is weak. Russian nickel, the morning Shanghai nickel 2006 contract reported to 100 to flat, after the opening of the morning market, the market price fell, some traders offered Russian nickel to water quotation, but more difficult to close, as the nickel price stabilized above 100000, the quotation mostly returned to Pingshui near, it is reported that today's discount quotation can record a small number of transactions, the overall trading is slightly better than yesterday. 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 if the market price rises in the future, Jinchuan rising water can be reduced slightly. Today, nickel beans reported 700 yuan / ton to Shanghai Nickel 2006 contract.

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