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[SMM Nickel spot afternoon Review] Shanghai Nickel shot up and fell back, continued its rising trend, and the spot trading atmosphere is still light.
May 20,2020 12:15CST
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Source:SMM
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SMM, May 20:

Today, SMM1 Electrolytic Nickel is quoted at 102600 RMB103500 per ton. Today, Shanghai Nickel continued to rise, with the early trading price rising 103000 yuan / ton, falling below 102500 yuan / ton after the second trading session. In the spot market, the quotation for rising water in the morning is basically stable compared with yesterday, the downstream demand is poor so that the transaction is light, the circulation between traders is also inactive, and the bidder is obviously more than the consignee. Today, Russo Nickel to Shanghai Nickel 2007 contract quoted 100 yuan / ton to Pingshui. Some traders believe that Shanghai Nickel continues to strengthen, even if the rise of the sticker can not promote the transaction; a small number of holders who have adjusted the price of Russo Nickel to 100 yuan / ton, the trading volume is still limited. As for Jinchuan Nickel, traders reported an increase of about 1100 yuan / ton for the Shanghai Nickel 2007 contract, and the transaction was light in the morning. However, the factory shipped Jinchuan No.1 Nickel today, and the ex-factory price in Gansu area was 102450 yuan / ton. Long Association traders enthusiastically picked up the goods in Jinchang one after another. In terms of nickel beans, the rising sticker water continued to decline, and the Shanghai Nickel 2007 contract was quoted at 900yuan / ton.

 

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