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[today's Nickel Market] Shanghai Nickel Morning Market rushes higher and falls down Russian Nickel quotation firm Jinchuan Nickel rising Water Down
May 11,2020 14:06CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

May 11 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).

May 11 SMM Nickel Market Trends

Electrolytic nickel

Nickel spot: SMM May 11: today SMM1 Electrolytic Nickel offer 102300-103800 yuan / ton. Russian nickel spot Shanghai nickel 2006 contract quotation between discount 2006 to ping shui, the market is still non-deliverable new version of Russian nickel price reduction space, Shanghai nickel fell back in the morning, although the price is up, but the Russian nickel holder price adjustment will be weak, on the one hand, the market low price supply is difficult to find, on the other hand, since May Day trading turn weak, traders choose to sit and watch the future, waiting for the downstream consumption to pick up just now, on the other hand, the market low price supply is difficult to find, on the other hand, since the May Day trading turn weak, traders choose to sit and watch the future, waiting for the downstream consumption to pick up. Jinchuan Nickel to Shanghai Nickel 2006 contract rose 1000 to 1200 yuan / ton in the morning market. After the opening of the morning market, there are a small number of transactions in the quotation of 1000 yuan / ton. After the second trading session, Jinchuan Company announced the ex-factory price of 103000 yuan / ton, and the Shanghai area has arrived. After that, the market merchants adjusted the price of Jinchuan nickel, and it is reported that 800-900 yuan / ton of water has reached a deal. Nickel beans, although there is good news that nickel beans can be delivered at the weekend, but it is still early to the date of delivery. At present, the demand deviation, superimposed nickel price upward, nickel bean quotation down to Shanghai nickel 2006 contract paste 900-800 yuan / ton.

[ex-factory Price of Jinchuan Company] SMM May 11: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 103000 yuan / ton, barreled small pieces 104200 yuan / ton, Jinchang quoted 102550 yuan / ton, 1000 yuan / ton higher than last Friday.

Stainless steel

Foshan area stainless Steel Meridian Review] SMM May 11: at the beginning of the week, the quotation of the whole stainless steel market in South China was significantly higher than that of last week. Under the steel mill's initiative to pull up the steel price, the market terminal purchasing demand was centrally released. At present, many traders arrange for delivery, indicating that the transaction and go to the warehouse have a better performance, and the pre-inventory pressure has been alleviated. In the quotation of steel products in Foshan, the price of the state-owned 304 2B trimming roll is 350 yuan / ton higher than the average price of 13850-14150 yuan / ton on Friday, and the private 3042B rough edge roll price is 250 yuan / ton higher than the average price of 13500-13600 yuan / ton on Friday. 304 / NO. 1 5ft quotation is 150 yuan / ton higher than last Friday's quotation at 13000-13200 yuan / ton, and the 10:30 SHFE SS2007 contract price is 13645 yuan / ton. Foshan stainless steel spot water 25-125 yuan / ton. (spot trimming = rough edges + 170).

[Wuxi stainless steel afternoon review] SMM May 11: today, Wuxi stainless steel market quotation generally rose, 304amp 2B rough edge crimping price range 13600mur13900 yuan / ton, the average price is 400yuan / ton higher than last Friday; 304ram 2B factory trimming curling price 13700mur14000 yuan / ton, the average price increased by 350yuan / ton; 304/NO.1 quoted 13300mur13500 yuan / ton, the average price increased 350yuan / ton. According to traders, prices have generally risen on Saturday, but after the price rise, the inquiry decreased, downstream orders fell, and the transaction atmosphere was normal before noon today. Castle Peak Steel Plant this morning opened a new price of 200 series stainless steel, 201/J1 cold rolling quoted 7150 yuan / ton, 100 yuan / ton higher than the last price, but the price has not yet been paid. At present, some operators believe that 304 stainless steel prices are on the high side, downstream goods will be more cautious. To 10:30 SHFE SS2007 contract price 13645 yuan / ton, Wuxi stainless steel spot water 125mur425 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

[SMM Steel Plant guidance Price] SMM May 11: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is 100-300 yuan / ton higher than that of last Saturday.

SMM5 June 11: morning Castle Peak Hongwang opened a new price, 201 cold rolling guidance price rose 100 yuan / ton: 201/j1 four feet cold rolling 7150 yuan / ton; 201/j2 four feet cold rolling 6800 yuan / ton, delivery date in June, waiting for approval.

Stock

According to SMM, as of Friday (May 8), SMM domestic pure nickel stocks of 54300 tons. As delivery approached in May, some of the spot was shipped to the Shanghai delivery warehouse this week, adding 277 tons to the previous inventory. In terms of hidden warehouses in East China, about 300 tons of nickel beans have entered the country, but the difference between imports and exports is still 1800 tons. In the case of no imports for storage this week, there has been a big drop. Bonded area, foreign trade almost no trading, about 300 tons of nickel plate into the warehouse. As a result, domestic nickel stocks, including bonded warehouses, fell 528 tonnes, or 0.96 per cent, from last week (April 30) to 54300 tonnes.

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 Mui 21Mui 516666780 / tylerzhao@smm.cn

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