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[nickel Market Today] spot trading atmosphere is light in the afternoon or enter holiday mode ahead of schedule
Apr 30,2020 15:25CST
Today, SMM1 Electrolytic Nickel quoted 100700-102400 yuan / ton, the average price is down 150 yuan / ton compared with yesterday.
The content below was translated by Tencent automatically for reference.

April 30 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 30 SMM Nickel Market Trends

Electrolytic nickel, nickel sulfate

Nickel spot: SMM April 30: today's SMM1 electrolytic nickel quotation 100700-102400 yuan / ton, the average price is down 150 yuan / ton compared with yesterday. After the high opening of Shanghai Nickel today, it maintained a concussive trend in the morning. In the morning market spot market, traders quoted prices to extend yesterday's rising water range, overreporting next month's ticket. The offer and inquiry are light, some traders have been closed in advance today, in this trading atmosphere, it is expected that those present in the afternoon will also leave one after another. Russian Nickel to Shanghai Nickel 2006 contract more than 100 yuan / ton to Pingshui. It is reported that in order to promote transactions, a small number of non-deliverable Russian nickel can be posted 150 yuan / ton to pick up the goods, but the demand is weak, the transaction is expected to be limited. Jinchuan nickel to Shanghai nickel 2006 contract rose 1400-1500 yuan / ton, the current supply is tight, Jinchuan rising water is still at a high level, few transactions in the morning market. Nickel beans to Shanghai Nickel 2006 contract reported 700 yuan / ton.

[ex-factory price of Jinchuan Company] SMM April 30: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 101800 yuan / ton, barreled small piece 103000 yuan / ton, Jinchang quotation 101350 yuan / ton, up from yesterday.

SMM, April 29: SMM high nickel pig iron price today quoted at 950,960 yuan / nickel point (including factory tax), flat from the previous trading day. Stainless steel plant pre-festival stock willingness is poor, there is no expected pre-section extended stock cycle procurement. The main reasons are as follows: 1. The Philippines is still in the rainy season in March, the seasonal decline in shipments, the impact of the ban has not been obvious for the time being, imports in April will have a big drop compared with the same period last year, while half of the inventory of domestic iron mills is less than two months. Nickel iron plant is affected by the shortage of nickel mine inventory, the intention to straighten up the price is strengthened, and it is more difficult to negotiate. 2. Stainless steel prices secretly fell, profits have a narrowing trend, high-priced raw material procurement intention has declined compared with the previous rising stage. 3. At present, the reserve warehouse of most steel mills has reached the end of May or the beginning of June, and a small number of steel mills have stock up to the middle and late June, so the demand for replenishing the warehouse before the festival is not tight.

SMM, April 29, according to SMM survey, the current production situation of nickel sulfate plants can be divided into two categories, one is the nickel sulfate plant with waste as the main raw material, because the cost is relatively low, the transaction price is also relatively low, the order situation is relatively good, and the order is basically full in April and May. The other is nickel sulfate plants, which mainly use intermediate products as raw materials, because the cost is relatively high, the transaction price is also relatively high, most of the factories have a certain amount of inventory, May may have a production reduction plan.

Stainless steel, ferrochromium

[Foshan stainless Steel Meridian Review] SMM April 30: pre-festival spot resources in South China transaction atmosphere is light, although there are traders pre-festival replenishment, but the downstream demand release performance is still worried, so the post-festival market wait-and-see sentiment increases, it is expected that short-term steel prices may be stable or small margin to make a profit. 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 SS2007 contract selling price 12810 yuan / ton, Foshan stainless steel spot water 310-510 yuan / ton. (spot trimming = rough edges + 170).

[Wuxi stainless Steel Meridian Review] SMM April 30: [April 30 Wuxi stainless Steel Daily Review] Today, Wuxi stainless steel prices are still flat quotation, 304 2B rough edge volume price of 12800-13300 yuan / ton, 304 2B state-owned trimming offer 13200-13400 yuan / ton; 304/NO.1 12600-12,900 yuan / ton. May Day holiday is coming, the market enters the holiday state, the inquiry is rare, the transaction is insipid. Recently, the market reflects a tight supply of spot goods, but after the holiday, with the gradual arrival of orders in May, the volume will be supplemented to a certain extent, traders will mainly wait and see the follow-up market. The last stainless steel contract has been converted to the SS2007 contract, and the stainless steel contract still continues the back structure, the SS2007 contract is still weak shock. For 10:30 SHFE SS2007 contract price 12810 yuan / ton, Wuxi stainless steel spot water 160-660 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

SMM4, March 30: since 00:00 on May 6, toll road tolls (including toll bridges and tunnels), raw material transportation costs of ferrochromium plants and the cost of transporting ferrochromium have increased, and most small and medium-sized ferrochromium plants have reported increased losses under high mining prices. Castle Peak and Baosteel Desheng respectively announced that the purchase price of high-carbon ferrochromium in May was 5897 yuan and 5900 yuan / 50 tons, which was significantly higher than that of the previous month, but it was still slightly different from the current retail market quotation. The main reason is that the cost of domestic chromium ore Chaigou is still high in many manufacturers. However, according to the current epidemic situation and policy requirements in Africa, the arrival of domestic chromium mines will improve after May, and the space for speculation at the mine end is limited.


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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