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[today's Nickel Market] after breaking through the pressure, Shanghai Nickel continues to move upstream and downstream, demand is cold and spot is mostly transferred by traders.
May 21,2020 14:48CST
The content below was translated by Tencent automatically for reference.

Price of SMM Nickel products on May 21th

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The trend of SMM Nickel Market on May 21

Electrolytic nickel and nickel pig iron

Nickel spot: SMM May 21: today SMM1 Electrolytic Nickel quotation 104750mur105650 yuan / ton, due to the unexpected drop of US crude oil yesterday, the basic metals slightly boosted, while the nickel market bulls took advantage of the opportunity to substantially increase their positions, Shanghai Nickel broke through the pressure level and rose to the highest level in nearly 3 months. In the spot market, the discount for rising traders has been lowered to a certain extent today, and there are active enquiries among traders in the morning, there is a certain amount of circulation, but the downstream demand is extremely light. Russo Nickel to Shanghai Nickel 2007 contract quoted 150 to 50 yuan / ton, at the same time in the past two days has been a new import of Russian nickel quotations, it is reported that if a large amount of procurement can be reduced to a certain extent. In terms of Jinchuan nickel, the mainstream traders in the morning market are still reporting that the trading price is still 900mur1100 yuan / ton, and the transaction situation is light. Due to the different holding costs of various traders in the market, it is difficult to replicate the transaction price of a small amount of riser 700mur800 yuan / ton. Jinchuan Company today's ex-factory price of 105400 yuan / ton, No. 1 nickel continues to be out of stock in Shanghai, Gansu area can be pre-sold next week to pick up goods, Jinchuan electroplated grade thick plate is currently on sale. As for nickel beans, the discount has not been further expanded today, and it is still quoted as 900 won 800 yuan per ton.

[ex-factory price of Jinchuan Company] SMM May 21: Jinchuan Electrolytic Nickel (big board) quoted price of 105400 yuan / ton in Shanghai, 106600 yuan / ton in barreled small pieces, and 104950 yuan / ton in Jinchang, an increase of 2500 yuan / ton compared with yesterday.

SMM5 March 21: a large stainless steel factory in North China recently traded high nickel pig iron at a price of 1000 yuan / nickel point (including tax to the factory), with a turnover of 10,000 tons, with a delivery date of July 10.

Stainless steel

[Wuxi stainless steel afternoon review] SMM May 21: today, Wuxi stainless steel private cold and hot rolling quotation is stable, 304amp 2B rough edge coiling price range 13600lb 13800 yuan / ton; 304 / NO.1 13250Mub 13350 yuan / ton; 304gamma 2B factory coil price 14000ltel 14100 yuan / ton, the average price is slightly increased by 50 yuan / ton. Although the price of nickel futures contract rose sharply today, the price volatility of the main contract of stainless steel futures was small and did not keep up with the upward trend. And the spot market transaction atmosphere is light, the price is stable, but the actual transaction may be reduced to make a profit. The industry said that the overall performance of stainless steel was poor this week. For 10:30 SHFE SS2007 contract price is 13450 yuan / ton, Wuxi stainless steel spot water is 320Rue 520 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] SMM May 21: in the morning, Foshan 300 series cold and hot rolling quotations were more stable than yesterday, and the high price transaction performance was weak, most of them pulled back shipments slightly again, but some specification steel was out of stock, resulting in individual spot quotations on the high side, short-term private steel mills continued to raise prices, and merchants' overall shipments were temporarily stable. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than yesterday's average price held steady at 14,100lbs 14,400 / ton, private 304Universe 2B rough edge curl than yesterday's average price slightly callback 50 yuan / ton at 13600 NO. 13800 yuan / ton, 304 / NO. 1 five-foot quotation is stable at 13,100,13,300 yuan / ton, to 10:30 SHFE SS2007 contract selling price 13450 yuan / ton, Foshan stainless steel spot water 320,520 yuan / ton. The price is stable at 13,100mm 13300 yuan / ton, and the spot price of Foshan stainless steel is 320,520 yuan / ton. (spot trimming = rough edge + 170).

[SMM Steel Plant guidance Price] SMM May 21: the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. is the same as yesterday.


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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