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[SMM Nickel spot afternoon Review] after Shanghai Nickel shot high and fell back, it still operated in yesterday's range of Russo Nickel discount to expand spot trading and the recovery was limited.
May 26,2020 12:18CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, May 26th:

Today, SMM1 Electrolytic Nickel quotation 100650Muth101905 yuan / ton. After today's Shanghai nickel morning market rallied, it gave up the gains and returned to yesterday's operating range. In the morning market, Russo Nickel to Shanghai Nickel 2007 contract quoted 200mur100 yuan / ton. Today, traders have a strong willingness to ship goods, and holders have adjusted prices downwards one after another. There are certain shipments with 200 yuan / ton quotation in the morning, but the overall trading volume in the market is limited due to weak downstream demand. Jinchuan Nickel to Shanghai Nickel 2007 contract rising water 1100mur1200 yuan / ton, due to the high cost of receiving goods, the market still continued yesterday's offer, light trading in the morning market. The ex-factory price of Jinchuan is 101700 yuan / ton, and the higher price is above 1000 yuan / ton, so the willingness of traders to replenish the stock is relatively low. As for nickel beans, due to the continued weak demand, the discount to Shanghai nickel has been expanded to 1100 yuan / ton.

 

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