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[SMM Nickel spot afternoon Review] Nickel downward spot sticking water remains stable in the afternoon, pay attention to whether the downstream demand can pick up.
May 27,2020 12:38CST
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Source:SMM
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SMM, May 27th:

Today, SMM1 Electrolytic Nickel is quoted at 100,200Muth101700 yuan / ton. Today, Shanghai Nickel gradually fluctuated downwards after the opening of trading, falling below 100000 before the close of the morning market. Spot premium is still stable than yesterday, although the market price is lower, but spot trading is lighter due to weak demand. Russo Nickel to Shanghai Nickel 2007 contract quoted a discount of 150,200 yuan / ton, according to some traders feedback transaction situation is not as good as yesterday. In terms of Jinchuan nickel, most traders in the morning market raised 1200 yuan / ton to 2007 contracts. At present, supply and demand are both weak. Today, the ex-factory price is 101300 yuan / ton, a reduction of 400 yuan / ton, which is about 1000 yuan / ton higher than the market price. Traders can only receive goods in Gansu area. The Nickel Bean discount also remained unchanged, and the Shanghai Nickel 2007 contract was quoted at 1100 won 1000 yuan / ton. In the afternoon, we will pay attention to whether the nickel price can stimulate the downstream to pick up the goods after falling below 100,000.

 

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