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SMM May 6 Shanghai Nickel spot Daily Review
May 6,2020 17:01CST
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Source:SMM
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SMM, 6 May:

Today, SMM1 Electrolytic Nickel quoted 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. In the spot market, Russian nickel closed well this morning and turned weak in the afternoon. Most of the morning market quotation holders still quote according to the pre-festival price, Russian nickel to Shanghai nickel 2006 contract is reported near Pingshui, can not be delivered Russian nickel discount goods; and some traders on the rise to 100 yuan / ton, the beginning of the market can reach a certain deal, as the future nickel prices pick up, traders gradually adjust prices to flat water. Jinchuan nickel to Shanghai nickel 2006 contract rose 1400-1500 yuan / ton, the morning market inquiry is more active, but the market transaction is less. Jinchuan Company arrived in Shanghai today, the ex-factory price was 100000 yuan / ton, lower than the market price. It is reported that manufacturers shipped fewer goods in Shanghai today, and most traders received goods in Jinchang, Gansu Province. In the afternoon, Jinchuan Nickel Shengshui was reduced to 1200-1300 yuan / ton, but the transaction still did not improve. Nickel beans, Shanghai nickel 2006 contract reported 600 yuan / ton in the morning, down to 700 yuan / ton in the afternoon.

 

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