Home / Metal News / 不锈钢 / [minutes of SMM Morning meeting] Nickel spot rising water cut down deal mixed stainless steel to make a small profit
[minutes of SMM Morning meeting] Nickel spot rising water cut down deal mixed stainless steel to make a small profit
May 27,2020 09:57CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel price judgment: there is a shock near the Shanghai Nickel 100,000 mark, but the spot situation is not optimistic. Weak consumption and the willingness to ship will enhance the spot market, which shows that in the pattern of other contradictions in the industrial chain is relatively not obvious, in the short term, unfavorable consumption gradually occupies the upper hand in the dominant market factors. Stainless steel, nickel iron, although profits are still further compressed space, but the overall stability. Expected to maintain a range shock, Shanghai Nickel 98500 muri 103000 yuan / ton, Lunni 11800Mui 12500 US dollars / tonne. no, no.

May 26th SMM1 Electrolytic Nickel quotation 100650mur101905 yuan / ton. In the morning market, Shanghai nickel still fluctuated in yesterday's range after rising. After opening, the market inquiry was more active, and Russian nickel traders had a strong willingness to ship goods, lowering the discount to between 100 and 200 yuan / ton. However, the transaction situation varies from good to bad, and the trading volume of low-priced goods is OK, but most of the holders with a small price adjustment react that the trading volume is not as good as that of yesterday. In the afternoon, prices rose again and fell back, and market trading gradually weakened. The 2007 contract of Jinchuan Nickel to Shanghai Nickel rose 1,100,200 yuan / ton, and Jinchuan's ex-factory price was 101700 yuan / tonne. Jinchuan Nickel can only pick up goods in Gansu area. It is reported that the volume of goods received by traders is relatively small. Due to the limited supply of goods, Jinchuan market has little room for rising and sticking water, and the transaction is also weak. Nickel beans, due to weak demand, the discount expanded to 1100 yuan / ton.

2. On May 26th, the ex-factory price of SMM high nickel pig iron is 970mur990 yuan / ton (including factory tax). The high nickel pig iron market is still relatively deserted. In the early stage, the stock replenishment of steel mills is relatively large, coupled with the fact that some steel mills have changed from bulk purchase to Changsha procurement, and the number of market inquiries is less. in addition, in addition to stainless steel factories actively replenishing inventory in mid-early May, traders are optimistic about more future replenishment. Most iron mills have signed orders until the end of June, and some have signed orders to July. The supply of goods in the market is tight, and the mentality of iron factory quotation is still relatively strong.

3, May 26, Wuxi spot quotation of stainless steel is generally stable, in which Hongwang resources have individual traders slightly reduced, 304amp 2B rough edge coil price range 13500lb 13700 yuan / ton, the average price slightly reduced 50 yuan / ton; 304 NO.1 quoted 13150Lue 13250 yuan / ton; 304amp 2B factory volume price 1390014100 yuan / ton, the price is stable. According to market understanding, Qingshan Series Steel Plant has quoted a narrowband price in August, which is the same as that in July, at 12600 yuan / ton. In the past two days, the spot price of stainless steel in Wuxi is stable and weak. near the end of the month, some merchants give a small profit to the goods, but the deal is general. For 10:30 SHFE SS2007 contract price 13275 yuan / ton, Wuxi stainless steel spot water 425mur625 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

Nickel
minutes of the internal morning meeting
nickel price
stainless steel

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news