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[nickel Market Today] Shanghai Nickel out of V-shaped trend once fell below 100,000 spot transactions warmed up and rose flat
May 13,2020 15:58CST
Today, SMM1 Electrolytic Nickel quoted 99900-101300 yuan / ton, the average price decreased by 2150 yuan / ton compared with yesterday.
The content below was translated by Tencent automatically for reference.

May 13 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 13 SMM Nickel Market Trends

Electrolytic nickel, nickel sulfate

Nickel spot: SMM May 13: today SMM1 Electrolytic Nickel offer 99900-101300 yuan / ton, the average price is 2150 yuan / ton lower than yesterday. After opening low in Shanghai Nickel this morning, it continued to drill down and rebounded to the bottom after 10:00, leaving the "V" trend in the morning. On the spot side, the discount was more stable than yesterday, and enquiries and transactions were better than yesterday. Russian nickel to Shanghai Nickel 2006 contract report 50 to 50 yuan / ton, the mainstream transaction price is near Pingshui, a small number of traders try to raise the price when the price goes down unilaterally. In addition, some traders in the market have moved their positions to the far month, submitting an offer of 150 yuan / ton for the 07 contract. Jinchuan nickel, Shanghai nickel 2006 contract rose 1000-1100 yuan / ton, the same as yesterday, the transaction has also improved. Today Jinchuan ex-factory price was quoted at 101200 yuan / ton, but due to the second trading session rose too fast, manufacturers appropriate shipments, so low-rise water supply did not have an impact on the market. Today, nickel beans reported 800 yuan / ton to Shanghai Nickel 2006 contract.

[ex-factory Price of Jinchuan Company] SMM May 13: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 101200 yuan / ton, barreled small pieces 102400 yuan / ton, Jinchang quoted 100750 yuan / ton, 1200 yuan / ton lower than yesterday.

SMM, May 13 / PRNewswire-Asianet /-according to SMM research, a nickel sulfate plant in North China has resumed production in May. But as downstream demand remained weak, the nickel sulfate plant said it had a low operating rate in May.

Stainless steel

[Foshan stainless steel afternoon review] SMM May 13th: after being raised by mainstream steel mills yesterday, the overall spot price of 200 series stainless steel in Foshan today is slightly homeopathic with an increase of 50 cents per ton, but the overall stability of 300 series cold and hot rolling is weak today, the willingness to take goods at high prices downstream is not strong, and the transaction atmosphere is weaker than that in the previous period, so some merchants choose to adjust the actual transaction back to 100 yuan / ton for positive shipment. In the short term, it is expected that the steel price will fluctuate mainly in small and medium amplitude. Foshan area steel quotation, the state-owned 304amp 2B trimming crimping price is 100yuan / ton lower than yesterday's average price in 14000won 14,300 yuan / ton, private 304thumb 2B rough edge crimping price is 100 yuan / ton lower than yesterday's average price at 13600 NO. 13800 yuan / ton, 304 / NO. 1 five-foot quotation is more stable than yesterday's offer at 13200 Muffin 13400 yuan / ton, to 10:30 SHFE SS2007 contract selling price 13370 yuan / ton, Foshan stainless steel spot water 400,600 yuan / ton, rising water 400,600 yuan / ton, Foshan stainless steel spot price 400,600 yuan / tonne, Foshan stainless steel spot price 400,600 yuan / tonne, Foshan stainless steel spot price 400,600 yuan / ton. (spot trimming = rough edges + 170).

SMM May 13: today, Wuxi stainless steel market quotation stable small and medium-sized down, 304 2B rough edge roll price range 13600-13900 yuan / ton, the average price is slightly lower than yesterday by 50 yuan / ton; 304 2B trimming volume price is 13750-14050 yuan / ton, the price is stable; 304/NO.1 is 13200-13500 yuan / ton, slightly reduced by 50 yuan / ton. This morning, Qingshan Steel Plant announced a new offer price of 12900 yuan / ton for hot rolled narrow strip, which is 300 yuan / ton higher than the last offer price in July. According to traders, this week steel mills in May orders have arrived one after another, but not a large number of concentrated to the market, the current market circulation of goods is not much. Today, individual traders slightly lower prices due to the recent transaction atmosphere is slightly light, price adjustment to explore the market, in case a large number of late arrival price pressure is too great. For 10:30 SHFE SS2007 contract price 13370 yuan / ton, Wuxi stainless steel spot water 400-700 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

[SMM Steel Plant guidance Price] SMM May 13: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is 100 yuan / ton higher than yesterday.


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 Murray 21 Mutual 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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