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SMM May 18th Shanghai Nickel spot Express
May 18,2020 12:25CST
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Source:SMM
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SMM, May 18:

Today, the price of electrolytic nickel in SMM1 is 99200mur100700 yuan / ton, which is 400 yuan / ton lower than that of yesterday. Last Friday night, Shanghai Nickel fell sharply, today stabilized above the 60-day moving average, and the morning market fluctuated near 99300 yuan / ton in the middle rail of the Bollinger line. In the spot market, today, most traders have turned to quoted prices for Shanghai Nickel 2007 contracts, and they are more willing to raise prices after the turn of the month. Russo Nickel to Shanghai Nickel 2007 contracts are mostly quoted in the paste 50 to Pingshui, there are a small number of non-deliverable new edition of Russo Nickel newspaper stickers 100 yuan / ton, the morning transaction situation is mixed, as the nickel price fell below 100, 000, and pure nickel relative to nickel pig iron discount, it is reported that today's steel mills active inquiry, individual trade has a large single transaction; but some traders said that due to the narrowing of Russian nickel discount, weak downstream demand, light trading. Jinchuan Nickel to Shanghai Nickel 2007 contract rose 1200mur1300 yuan / ton, transaction activity is less than Russo Nickel. Today's ex-factory price is 100300 yuan / ton, Shanghai and Jinchang are only a small number of shipments, the current inventory of traders is relatively small, there is still a demand for replenishment, it is expected that the rising water will be strong in the future. The price quoted by Nickel Bean for Shanghai Nickel 2007 contract is about 800yuan / ton.

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