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[nickel Market Today] Nickel out of the "V" Market again near delivery spot up and up
May 14,2020 14:32CST
Today, SMM1 Electrolytic Nickel quoted 100350-101650 yuan / ton, the average price increased by 400 yuan / ton compared with yesterday.
The content below was translated by Tencent automatically for reference.

May 14 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 14 SMM Nickel Market Trends

Electrolytic nickel

Nickel spot: SMM May 14, today SMM1 electrolytic nickel quotation 100350-101650 yuan / ton, the average price is 400 yuan / ton higher than yesterday. Today, Shanghai nickel price opened high after the pressure down, the second trading session returned to rise, once again out of the "V" shape trend. In the spot market, as delivery is approaching, Russian nickel holders are offering prices one after another today, and non-deliverable Russian nickel is also reported near Pingshui. Russian nickel warehouse receipts and deliverable Russian nickel spot report are up 50100 yuan / ton to the 2006 contract, and the transaction situation is not as good as yesterday. Jinchuan nickel to Shanghai nickel 2006 contract rose 1100-1200 yuan / ton, after the opening of the morning market, there are few transactions, the market is mostly waiting to see Jinchuan Company adjust prices, today's Shanghai ex-factory price of 102000 yuan / ton, Shanghai has a small number of shipments, but generally speaking, the delivery volume of traders is limited, so the rising water of the spot market is almost unchanged. Subsequently Jinchuan nickel reached a deal one after another, the volume is also less than yesterday. Nickel beans and yesterday's discount is the same as yesterday, the 2006 contract reported 800 yuan / ton.

[ex-factory Price of Jinchuan Company] SMM May 14: Jinchuan Company Electrolytic Nickel (Big Board) Shanghai offer 102000 yuan / ton, barreled small pieces 103200 yuan / ton, Jinchang quoted 101550 yuan / ton, up 800 yuan / ton from yesterday.

Stainless steel

Wuxi area stainless Steel Meridian Review] SMM May 14: today, Wuxi stainless steel market quotation is generally stable, 304 2B rough edge roll price range 1360013900 yuan / ton, 3042B cutting edge roll price 1375014050 yuan / ton, the price is the same as yesterday; 304 / NO.1 1310013500 yuan / ton, the average price is 50 yuan / ton lower than yesterday.

In the past two days, due to the gradual slowdown in transactions, stainless steel market quotation has a weakening trend, but due to the limited market volume, the supply of goods in circulation in the market has not increased significantly, only some traders with a certain inventory stock have made a small adjustment. For 10:30 SHFE SS2007 contract price 13335 yuan / ton, Wuxi stainless steel spot water 435-735 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

SMM, May 14 / PRNewswire-FirstCall-Asianet /-the recent high price performance of various departments in Foshan is slightly weak, so at present it caters to the market demand, and the merchants say that the short-term steel price may be stable and small correction. In addition, it has been heard that the futures price of Yunnan Tiangao 304 hot rolling at the end of May was on the low side at 13000 yuan / ton in the Foshan market, and some traders said that the hot rolling pick-up price was 200-300 yuan / ton lower than the market quotation for hot rolling at the same time. However, in the later stage, the operation of steel price still needs to wait and see the change of downstream demand, mainly temporary stability in the short term.

Foshan area steel quotation, the state-owned 3042B trimming volume price held steady at 14000-14300 yuan / ton compared with yesterday's average price, private 3042B rough edge roll price down 50 yuan / ton from yesterday's average price quoted in 13550-13750 yuan / ton, 304 / NO. 1 five feet quote down 100yuan / ton from yesterday quoted at 1310013300 yuan / ton, the 10:30 SHFE SS2007 contract selling price 13335 yuan / ton, Foshan stainless steel spot water 385-585 yuan / ton. (spot trimming = rough edges + 170).

[SMM Steel Plant guidance Price] SMM May 14: the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. is the same as yesterday.

[SMM stainless Steel Plant Weekly Price] SMM May 13: Dongfang Special Steel rose 100-500 yuan / ton this week.


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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