[today's Nickel Market] Shanghai Nickel stabilized above the 60-day moving average and made inquiries to improve transactions.

May 18th SMM Nickel Product Price

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The trend of SMM Nickel Market on May 18th

Electrolytic nickel

Nickel spot: SMM May 18, today SMM1 Electrolytic Nickel quotation 99200mur100700 yuan / ton, the average price is 400 yuan / ton lower than 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. Nickel Bean quotation for Shanghai Nickel 2007 contract is about 800yuan / ton.

[ex-factory price of Jinchuan Company] SMM May 18: Jinchuan Electrolytic Nickel (big board) quoted price of 100200 yuan / ton in Shanghai, 101400 yuan / ton in barreled small pieces, and 99750 yuan / ton in Jinchang, which is 300 yuan / ton lower than last Friday.

Stainless steel

[Wuxi stainless steel afternoon review] SMM May 18: Wuxi stainless steel market quotation is generally flat, 304amp 2B rough edge coiling price range 13500mur13800 yuan / ton, the average price slightly reduced by 50 yuan / ton; 304gamble 2B large factory trimming curling price 13800Muth14000 yuan / ton, 304 / NO.1 13100Muth13300 yuan / ton, are the same as last Friday. Today, Aoyama stainless steel announced a new offer price for 304cold and hot rolling, with 304mm hot rolled board at 13100 yuan / ton and 304ft cold rolling at 13400 yuan / ton, both of which are 300 yuan / ton higher than the previous price. But recently, stainless steel spot transactions have a weakening trend, May orders gradually reached the market, cold rolling quotation slightly reduced. Operators said that most of the orders are expected to arrive this week, and even if the futures price increases after the concentrated arrival of goods, the impact on the spot market is estimated to be limited, mainly depending on downstream transactions and receipt of goods. For 10:30 SHFE SS2007 contract price of 13450 yuan / ton, Wuxi stainless steel spot water 220mur520 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] SMM May 18: although there are Qingshan 304 hot rolling and Yongjin June futures guidance prices on the market at the beginning of the week, the overall increase of 300 yuan / ton, but the South China market in late May enquiries and actual transactions compared with the first half of the market is slightly light, steel prices do not get high market support, so most businesses choose a small callback of steel market prices flexible delivery-based, short-term steel prices are expected to be stable for the time being. Foshan area steel quotation, the state-owned 304Universe 2B trimming crimping price is stable at 14000won / ton compared with the average price last Friday, private 304Universe 2B rough edge crimping price is unchanged than last Friday average price at 13450 NO. 13650 yuan / ton, 304 / NO. 1 five-foot quotation is the same as last Friday quotation at 13100Mutual 13200 yuan / ton, to 10:30 SHFE SS2007 contract selling price 13450 yuan / ton, Foshan stainless steel spot water 170,370 yuan / ton. (spot trimming = rough edge + 170).

SMM5 March 18: Chrome traders continue last week's price sentiment, the spot price of high-carbon ferrochromium has not changed, but domestic factories expect higher prices of ferrochromium in the later period, and affected by the force majeure of the outer disk resources of chromite, the demand for spot resources of chromite increases. Under the circumstances that the demand for chromium resources is stable and the transportation and production in South Africa have not fully recovered from the epidemic, the domestic spot market for chromium ore is running well in the short term; the spot price of 40% of 42% chromium concentrate in South Africa is 29.5 Mel 32 yuan / tonnage; 38% of the raw ore is quoted at 32 Mel 34 yuan / tonnage; the price of 46 Mui 48% chrome concentrate in Turkey is quoted at 40mur41 yuan / tonnage; and the spot price of 48% Chrome concentrate in Zimbabwe is 3435 yuan / tonnage.

SMM May 18: today, Castle Peak offered a sales guidance price of 13100 yuan / ton for hot-rolled plate. In June, the quoted volume is to be approved, including tax, and the ring price is 300 yuan / ton higher than the offer price on May 6th.

SMM May 18: Guangdong Yongjin 304 cold rolling in June sales guidance price of five feet 13600 yuan / ton, up 400 yuan / ton compared with May 6 offer price.

[stainless steel stock price-304cold rolling] SMM May 18: Fujian Yongjin June sales guidance price 3044ft cold rolling quotation 13400 yuan / ton, up 300 yuan / ton compared with May 6th offer price.

[SMM Steel Plant guidance Price] SMM May 18: the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. dropped by 100,200 yuan / ton compared with last Friday.

Inventory

According to SMM, the inventory in the last period of this week decreased by 211t, although warehouse receipt inventory increased, but at the same time there were more non-deliverable Russian nickel out of the warehouse. In terms of hidden inventory in East China, except for the arrival of Jinchuan nickel, nickel plates in the bonded area flowed into the country, so the inventory increased by 596 tons to 9829 tons; in the bonded area, the import window briefly opened on Monday, and it is reported that there were a small number of transactions in the bonded area. as a result, nickel plate inventory decreased by 500 tons. To sum up, SMM domestic nickel stocks (including bonded warehouses) this week decreased by a total of 115t, or 0.21%, to 54200 tons compared with last week.

Nickel Research Group of Nonferrous Metals Department

Liu Yuqiao: + 86 Murray 21 Mutual 51666804 / liuyuqiao@smm.cn

Li Chuntian: + 86 Murray 21 Murray 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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