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[nickel Market Today] long reduced position Shanghai Nickel Price slightly fell back spot trading light Jinchuan nickel is better than Russian nickel
May 8,2020 14:23CST
Today's SMM1 Electrolytic Nickel quotation is 101200 RMB102700 / ton, the average price is 250RMB / t lower than yesterday.
The content below was translated by Tencent automatically for reference.

Price of SMM Nickel products on May 8th

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 8 SMM Nickel Market Trends

Electrolytic nickel

Nickel spot: SMM May 8, today SMM1 electrolytic nickel quotation 101200-102700 yuan / ton, the average price is 250 yuan / ton lower than yesterday. Shanghai nickel closed down yesterday night, this morning Shanghai nickel although some recovery, but the center of gravity is still lower than the previous two days. The decline in prices did not improve spot market trading. Russo Nickel to Shanghai Nickel 2006 contract quoted 50 yuan / ton to rise 50 yuan / ton, the morning market traders quoted more than flat water, some non-deliverable Russian nickel can be discounted shipments, there are few transactions in the morning market. Jinchuan Nickel 2006 contract against Shanghai Nickel rose 1,200mur1300 yuan / ton, traders continue to quote yesterday, it is reported that the market trading is slightly better than Russo Nickel, some traders have dozens of tons of trading volume. Jinchuan Company Shanghai ex-factory price of 102000 yuan / ton, Gansu 101550 yuan / ton, at present can only pick up goods in Gansu. Nickel beans to Shanghai nickel 2007 contract posted 700 yuan / ton, due to May Day before the three yuan precursor factory has goods, the current demand is weak.

[ex-factory price of Jinchuan Company] SMM May 8th: Jinchuan Electrolytic Nickel (big board) quoted price of 102000 yuan / ton in Shanghai, 103200 yuan / ton in small barreled pieces, and 101550 yuan / ton in Jinchang, 1200 yuan / ton lower than yesterday.

Nickel sulfate

SMM, May 7, according to SMM research, the current battery grade nickel sulfate-liquid market mainstream trading price of about 22500 yuan / ton, battery grade nickel sulfate-crystal market mainstream trading price of about 23500 yuan / ton. Although the main downstream precursor plants of nickel sulfate have plans to reduce production in May, it is also difficult to go down because of the current nickel price supporting the price of nickel sulfate. SMM predicts that the battery grade nickel sulfate-crystal price will remain at 23000-24000 yuan / ton in the near future.

Stainless steel

Foshan area stainless Steel Meridian Review] SMM May 8: Foshan area within the week by steel mills pull up, the market steel prices as a whole high price operation, today's market inquiry order is still OK, part of the actual transaction situation has businesses said that they will be flexible pricing shipment, short-term stable operation of steel prices, but the late price trend still depends on the release of terminal demand. Foshan area steel quotation, the state-owned 304 2B trimming volume price is more stable than yesterday's average price at 13550-13750 yuan / ton, private 3042B rough edge roll price is more stable than yesterday's average price at 1325013350 yuan / ton, 304 / NO. 1 five feet quotation is more stable than yesterday's quotation at 12900-13000 yuan / ton, the 10:30 SHFE SS2007 contract selling price 13125 yuan / ton, Foshan stainless steel spot water 295-395 yuan / ton. (spot trimming = rough edges + 170).

SMM, May 8 / PRNewswire-FirstCall-Asianet /-Today, stainless steel prices in Wuxi are all flat, with 304 2B rough edges quoted in the range of 13300-13400 yuan / ton, and 304.1 quoted at 13000-13100 yuan / ton. According to the report of traders, the atmosphere of transactions today is not as lively as that of the previous two days. 304 cold rolling, some traders quoted stable, but the actual transaction slightly reduced. Orders are expected to be concentrated in May next week, with an increase in supply and pressure on prices, but the specific price trend in the later stage will still depend on whether the downstream demand situation can continue to improve. For 10:30 SHFE SS2007 contract price 13125 yuan / ton, Wuxi stainless steel spot water 345-445 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

[SMM Steel Plant guidance Price] SMM May 8: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is the same as yesterday.

[SMM stainless Steel Factory Weekly Price] SMM May 7: Dongfang Special Steel rose 200 million yuan / ton this week.

[SMM stainless Steel Factory Weekly Price] SMM May 7: 30430 Series stainless Steel Weekly settlement Price of Jiuquan Iron and Steel Co., Ltd.


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 has decreased by about 500 tons, but at the same time, some imported goods have directly entered the Shanghai delivery warehouse after customs clearance, and will gradually become warehouse receipt inventory, so the inventory changes in the previous period are 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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