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[today's Nickel Market] Shanghai Nickel is under selling pressure to operate under 100000. The spot atmosphere is warmer and trading is OK.
May 15,2020 14:07CST
translation
Source:SMM
Today, SMM1 Electrolytic Nickel quoted 99600-101100 yuan / ton, the average price decreased by 650 yuan / ton compared with yesterday.
The content below was translated by Tencent automatically for reference.

May 15 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 15 SMM Nickel Market Trends

Electrolytic nickel and nickel pig iron

Nickel spot: SMM May 15, today's SMM1 electrolytic nickel quotation 99600mur101100 yuan / ton, the average price is 650yuan / ton lower than yesterday. Shanghai Nickel fell below the 100000 mark in late trading yesterday and was again under pressure today, with a concussion in the morning market. As the futures price is the lowest point of the week, the market inquiry is active today, the transaction situation is OK. Russo Nickel quoted the Shanghai Nickel 2006 contract flat to 100 yuan / ton, and some traders quoted 200 yuan / ton to 100 yuan / ton for the 07 contract. It is expected that traders will gradually turn to 07 contract quotations next week, so even if the market falls, traders have not adjusted their prices significantly. Jinchuan nickel to Shanghai nickel 2006 contract rose 1200-1300 yuan / ton, Jinchuan ex-factory price of 100500 yuan / ton, but today the factory shipments are relatively small, most traders still have replenishment demand, so Jinchuan nickel rising water is 100 yuan / ton higher than yesterday. Nickel beans to Shanghai Nickel 2006 contract 750700 yuan / ton.

[ex-factory price of Jinchuan Company] SMM May 15: Jinchuan Electrolytic Nickel (large Board) quoted price of 100500 yuan / ton in Shanghai, 101700 yuan / ton in barreled small pieces, and 100050 yuan / ton in Jinchang, 1500 yuan / ton lower than yesterday.

SMM5, March 15: according to SMM, a large stainless steel factory in the south yesterday purchased 10, 000 tons of high-nickel pig iron for Indonesian iron, with a price of 995 yuan / nickel point (including tax). Whether the floating price of 5 yuan will increase needs to be adjusted according to the price of imported nickel in recent days.

Stainless steel, ferrochromium

Wuxi stainless Steel Meridian Review, May 15, SMM: today, Wuxi 304 cold rolling market quotation slightly reduced 50 yuan / ton, 304 2B rough edge roll price range 13500-13900 yuan / ton, 304 2B big factory trimming roll price 13800-14000 yuan / ton, the average price is the same; 304 / NO.1 quoted 1310013300 yuan / ton, the average price decreased by 100yuan / ton compared with yesterday. In the past two days, the transaction is on the weak side, the stainless steel market quotation has been slightly downgraded. According to traders, cold rolling steel mills release less, the current decline is smaller than hot rolling. However, the overall market spot circulation supply is not many, part of the specifications are out of stock, the advance order has not yet been fully delivered. For 10:30 SHFE SS2007 contract price 13315 yuan / ton, Wuxi stainless steel spot water 355-755 yuan / ton. (spot trimming = rough edges + 170 yuan / ton)

SMM, May 15 / PRNewswire-FirstCall-Asianet /-on Friday, the steel prices of various departments in Foshan were firm under the guidance of steel mills, which remained stable compared with yesterday, but the second half of the week lacked strong support from market demand, and the performance of high prices was weak. Many businesses chose to reduce prices flexibly, with a pullback of 50-100 yuan / ton. In the short term, it is expected that stainless steel in South China will fluctuate mainly in a small and medium range. Foshan area steel quotation, the state-owned 304 2B trimming volume price is stable at 14000-14300 yuan / ton compared with yesterday's average price, private 3042B rough edge roll price is lower than yesterday's average price of 1345013650 yuan / ton, 304 / NO. 1 five feet quote 50 yuan / ton lower than yesterday's quotation at 1310013200 yuan / ton, the 10:30 SHFE SS2007 contract price of 13315 yuan / ton, Foshan stainless steel spot water 305505 yuan / ton (spot trimming = rough edge + 170).

[SMM Steel Plant guidance Price] SMM May 15: Wuxi Taiyuan Iron and Steel Co., Ltd. Spot daily guidance price is down 100-150 yuan / ton compared with yesterday.

SMM5, March 15: South Africa due to a significant reduction in chromite resources and a small increase of 0.5 yuan / tonnage, high-carbon ferrochromium is also slightly willing to raise prices, at the same time, due to the market in April brought losses to some ferrochromium plants, coupled with the current high mining prices make the market generally start, chromite factory said that circulating spot resources are scarce, do not want to sell at low prices, in the terminal stainless steel production is stable, imported chromite and ferrochromium resources reduced to Hong Kong, The alloy factory has a good expectation of the bidding price for the new round of steel mills.

 

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 entered China, but the import and export balance is still 1800 tons. Nickel plates have not been imported into the warehouse 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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