Home / Metal News / Nickel / [2020.5.20 Nickel Internal Morning meeting Summary] after the strengthening of nickel spot price, the demand release is weak and the transaction atmosphere of stainless steel is weak.
[2020.5.20 Nickel Internal Morning meeting Summary] after the strengthening of nickel spot price, the demand release is weak and the transaction atmosphere of stainless steel is weak.
May 20,2020 09:58CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel price judgment: nickel spot continues to be dull, nickel pig iron supply and demand balance can still be added, nickel ore cost support is still relatively strong, but stainless steel prices have reached a peak and are difficult to be strong in the short term. generally speaking, the pure nickel industry chain is in a slightly weaker state in the balance, and there is a certain possibility of increasing imported resources in the later stage, lack of further driving force, but the lower support is also more obvious. The high production schedule of stainless steel and the relative performance of the macroscopic surface are OK. After yesterday's rise, today's strong shock situation. It is expected that today's range of Shanghai nickel 102000mur103500 yuan / ton, Lunni 12400mur12600 US dollars / ton.

On May 19th, SMM1 Electrolytic Nickel is quoted at 101600 RMB103100 / ton. Although the Shanghai nickel price rebounded sharply, but the spot discount is stable than yesterday, although there are enquiries, but the transaction is significantly weaker. Russo Nickel to Shanghai Nickel 2007 contract quoted 50 yuan / ton to Pingshui; due to the active trading of non-deliverable nickel plates yesterday, the supply of low-cost goods decreased significantly today, Russo Nickel liter discount remained firm near flat water, and Russo Nickel discount quotations became more in the afternoon. Jinchuan Nickel 2007 contract against Shanghai Nickel rose 1100mur1200 yuan / ton, Jinchuan ex-factory price of 102600 yuan / ton, about 1000 yuan / ton higher than the market price. Due to the poor shipments of the consignors in the morning, the willingness to receive goods and replenish the warehouse is weak. Jinchuan nickel water has not been lowered in the afternoon, and the market demand is still weak. Nickel beans to Shanghai Nickel 2007 contract quoted 800 yuan / ton, slightly lower than yesterday. In terms of foreign trade, imported nickel plates and nickel beans will be imported one after another this week.

On May 19th, the average price of stainless steel 304cold and hot rolling in Wuxi area was slightly increased by 50 yuan / ton, and the quotation range of rough edge coiling price of 304amp 2B was 13600 NO.1 13300 yuan / ton. At present, the spot price in the market is slightly higher than the term unit price, and the increase in the price of steel mills on Monday has little impact on the spot. Some traders said that some orders for hot rolling resources have arrived this week, and then the price trend still depends on the downstream demand. At present, the trading atmosphere has a weak trend. For 10:30 SHFE SS2007 contract price is 13555 yuan / ton, Wuxi stainless steel spot water is 215 RMB415 / ton. (spot trimming = rough edge + 170 yuan / ton)

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