SMM April 29 Shanghai Nickel spot Newsletter

Published: Apr 29, 2020 12:06 (GMT+8)

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SMM, 29 April:

Today, SMM1 Electrolytic Nickel quoted 100800-102600 yuan / ton, the average price rose 850 yuan / ton yesterday. Today, Shanghai nickel opened higher and lower gradually, but the center of gravity is still running above 100000, the spot discount is more stable than yesterday, trading also continues to be light. Russian nickel to Shanghai nickel 2006 contract to post 100 yuan / ton to Pingshui, discount source has sporadic transactions, Pingshui quotation is more difficult to ship. Jinchuan nickel to Shanghai nickel 2006 contract rose 1300-1400 yuan / ton, there is a little circulation between traders, downstream demand is weak. Jinchuan ex-factory price quoted 101600 yuan / ton, but the disk gradually lower, and the Shanghai area continues to be out of stock, it is expected that traders are less willing to receive goods. Nickel beans to Shanghai Nickel 2006 contract is still reported at 700 yuan / ton.

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