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[nickel Market Today] nickel in Shanghai is suppressed first and then nickel in Russia is slightly better than nickel in Jinchuan.
May 6,2020 14:07CST
Today, SMM1 Electrolytic Nickel quoted 98100-99900 yuan / ton, the average price is down 2250 yuan / ton compared with April 30.
The content below was translated by Tencent automatically for reference.

May 6 May Price of SMM Nickel products

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).

May 6 SMM Nickel Market Trends

Electrolytic nickel

Nickel spot: SMM May 6, today SMM1 electrolytic nickel quotation 98100-99900 yuan / ton, the average price is down 2250 yuan / ton compared with April 30. As the outer plate fell during the holiday period, Shanghai nickel jumped low today. The overall transaction of Russian nickel in the spot market is OK, but after the opening of the morning market, the market is divided on the rising water. Most of the holders still quote according to the price before the festival. The Russian nickel contract for Shanghai Nickel 2006 is reported near Pingshui. A small amount of non-deliverable Russian nickel can be discounted. Another part of the traders rose to 100 yuan / ton, and reached a certain deal at the beginning of the session, but with the second trading period, the nickel price rebounded and the trading was weak. Jinchuan Nickel Shanghai Nickel 2006 contract rose 1400-1500 yuan / ton, the morning market inquiry is more active, but the market transaction is weak. Today, Jinchuan Company has some goods delivered in Shanghai, the ex-factory price is 100000 yuan / ton, lower than the market price, it is reported that manufacturers in Shanghai today less shipments, traders in Jinchang, Gansu Province. In terms of nickel beans, the Shanghai Nickel 2006 contract was reported to be 650 yuan / ton, which was narrower than that before the festival.

[ex-factory Price of Jinchuan Company] SMM May 6: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 100000 yuan / ton, barreled small pieces 101200 yuan / ton, Jinchang quotation 99550 yuan / ton, 1800 yuan / ton lower than April 30.

Stainless steel

Foshan area stainless Steel Meridian Review] SMM May 6: after the May Day holiday Foshan area steel prices as a whole to maintain a stable operation, the downstream market inquiry atmosphere is general, the actual new orders are less, in addition, due to the reduction and stagnation of holiday logistics transportation, most businesses have delivered pre-festival orders to arrange delivery, it is expected that during the week steel spot resources quotation stable operation. Today Foshan area each department steel market quotation situation, in which the state-owned 3042B trimming volume price is stable in 13500-13700 yuan / ton compared with the average price before the festival, the private 3042B rough edge roll price is slightly higher than before the holiday by 50 yuan / ton in 13000-13200 yuan / ton, 304 / NO. 1 five feet quotation and hold steady in 12600-12800 yuan / ton, the 10:30 SHFE SS2006 contract selling price 13035 yuan / ton, Foshan stainless steel spot water 135-335 yuan / ton. (spot trimming = rough edges + 170).

[may 06 Wuxi stainless Steel Daily Review] SMM 06 May: this morning, most traders in Wuxi area 304 cold rolling prices are flat, some traders slightly trial up 50-100 yuan / ton, 304 2B rough edge roll price quotation range 12900-13300 yuan / ton, the average price slightly higher than before the festival 50 yuan / ton; 304.1 quoted 12600-12900 yuan / ton. At noon, Yongjin quoted a new price, 304 cold rolling four feet and five feet price increased by 200 yuan / ton, 304ft quoted 13100 yuan / ton, 304ft quoted 13200 yuan / ton. Subsequently, the quotation of traders followed the rise, and the market quotation was generally raised by 100 yuan / ton. 304Hot rolled narrow strip price increased by 200yuan / ton to 12600 yuan / ton, hot rolled plate increased by 100yuan / ton to 12800 yuan / ton, the market quotation has been raised one after another. An increase of about 100 yuan per ton. According to the report of the traders before noon, the current inquiry is good and the transaction is not expected to be very bad. Today, the stainless steel contract showed an upward trend, the main contract SS2007 once again broke through the 13000 yuan / ton barrier, the 10:30 SHFE SS2007 contract price of 13035 yuan / ton, Wuxi stainless steel spot water rose 35-435 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)


Domestic nickel stocks, including inventory of previous warehouse receipts, fell 201 tonnes, or 0.37 per cent, from last week to 55000 tonnes. Domestic stocks (except bonded warehouses) are about 37800 tons, of which nickel beans are reduced by 500 tons to 1800 tons, and nickel plates are about 3.6 tons. Inventories fell 40 tons, or 0.15%, earlier this week. The original warehouse receipt inventory in Shanghai area has dropped by about 500 tons, but at the same time, some imported goods will go directly into the Shanghai area delivery warehouse after customs clearance, and will be made into warehouse receipt inventory one after another, so the change range of the inventory in the previous period is relatively small. Hidden inventories in eastern China rose 639 tonnes from last week, also from recent imports of nickel plates, while stocks of pure nickel in the Shanghai bonded area were 17100 tonnes, down 800 tonnes from last week. It is reported that some of the goods that have recently arrived at Hong Kong are still in the customs declaration process and will not flow to bonded area warehouses for the time being.

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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