[nickel Market Today] the "demon nickel" has its ups and downs in the spot market, which is relatively weak on the sidelines.

May 12 SMM Nickel Product Price

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May 12 SMM Nickel Market Trends

Electrolytic nickel and nickel pig iron

Nickel spot: SMM May 12: today SMM1 Electrolytic Nickel quotation 102000Mel 103500 yuan / ton, the average price is 300 yuan / ton lower than yesterday. Today, the Shanghai nickel market fluctuates greatly, the market trading is OK after the opening of the morning market, but after the intraday Shanghai nickel quickly reached above 102000, it fell 2000 yuan / ton in a row. Therefore, the market wait and see sentiment gradually heats up, the trading atmosphere weakens. In terms of discount, Russo Nickel to Shanghai Nickel 2006 contract quoted to level water, the price is the same as yesterday. Jinchuan Nickel 2006 contract against Shanghai Nickel rose 1,100 yuan / ton, Jinchuan's ex-factory price of 103000 yuan / ton today is also unchanged from yesterday, but due to the rapid decline in trading prices, traders are less willing to accept goods. It is reported that goods have arrived in Shanghai at present and can be shipped normally in the near future. Nickel beans, Shanghai Nickel 2006 contract report 800-700 yuan / ton. Focusing on the stabilization of nickel prices in the afternoon will be key to improving the trading atmosphere.

[ex-factory Price of Jinchuan Company] SMM May 12: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 103000 yuan / ton, barreled small pieces 104200 yuan / ton, Jinchang quoted 102550 yuan / ton, the same as yesterday.

SMM, May 11: the price of high nickel pig iron this Friday is 960-970 yuan / nickel point (including factory tax), which is the same as last Friday. Today, there is no mainstream steel factory quotation inquiry, nickel iron quotation continues to rise with the rise of stainless steel, last Friday mainstream stainless steel factory inquiry price to 980-1000 yuan / nickel point. Stainless steel and nickel mine prices still have room to rise this week, with both supply and demand rising, high nickel pig iron prices are expected to continue to rise slightly this week, leaving the factory close to the 1000 yuan mark.

Stainless steel

Foshan stainless Steel Meridian Review] SMM May 12: Foshan 200,300 series cold and hot rolling quotation has risen significantly again, according to market traders said that with steel prices continue to rise, downstream performance increased, the actual market transactions improved, other traders said that the early supply sales faster, recently there will be new shipments to the market, short-term steel prices are expected to be stable and on the strong side of the operation. In the quotation of steel products in Foshan, the price of the state-owned 304 2B trimming roll is 250 yuan / ton higher than yesterday's average price at 14100-14400 yuan / ton, and the private 3042B rough edge roll price is 250 yuan / ton higher than yesterday's average price of 13700-13900 yuan / ton. 304 / NO. 1 5ft quotation is 200 yuan / ton higher than yesterday's offer at 13200-13400 yuan / ton, and the 10:30 SHFE SS2007 contract price is 13630 yuan / ton. Foshan stainless steel spot water 240440 yuan / ton. (spot trimming = rough edge + 170).

SMM May 12: this morning, Wuxi stainless steel market quotation is generally stable, there are individual traders slightly up, 304 2B rough edge roll price range 13700-13900 yuan / ton, the average price is 50 yuan / ton higher than yesterday; 3042B large factory trimming volume price is 1375014050 yuan / ton, the average price is increased by 50 yuan / ton; 304/NO.1 quoted 1330013500 yuan / ton, the same as yesterday's price. According to market understanding, at present, Qingshan Steel Plant 300 series stainless steel has not announced the new price; there are other steel mills quoted 13400 yuan / ton, delivery in June. Nearly two days, after the price increase, Wuxi market transactions in general, traders said that since the May Day holiday, stainless steel market prices have risen sharply, prices fluctuated sharply, downstream to take goods more cautiously. If the late steel plant price is still up, stainless steel market prices will remain strong. For 10:30 SHFE SS2007 contract price 13630 yuan / ton, Wuxi stainless steel spot water 240-440 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

SMM5, March 12: inner Mongolia high-carbon ferrochromium factory quoted 6000-6100 yuan / 50 tons, northwest 6000-6100 yuan / 50 tons, Sichuan mainstream quoted 6200-6300 yuan / 50 tons; South Africa resumed work in the second week of the epidemic repeatedly, the domestic need to pay attention to the impact of chromium enterprises, especially individual mines and smelters chain reaction on the supply of domestic chromium resources. After the tender of stainless steel mill was settled in May, the retail market quotation of domestic high-carbon ferrochromium manufacturers remained stable, but also affected by the recent chromium uncertainty factors, the overall industry chain procurement is very cautious, high-carbon ferrochromium trading needs to be increased.

Stock

According to SMM, as of Friday,), SMM domestic pure nickel inventory 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. In the bonded area, there is almost no trading in foreign trade, and about 300 tons of nickel plates are stored in storage. 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 Murray 21 Mutual 51666901 / zhanglingying@smm.cn

Zhao Ming: + 86 Mui 21Mui 516666780 / tylerzhao@smm.cn

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