[today's Nickel Market] Shanghai Nickel concussion downward fell below 100,000 spot prices, reported more than received, received less, and made limited transactions.

The trend of SMM Nickel Market on May 27th

Electrolytic nickel

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.

[ex-factory price of Jinchuan Company] SMM May 27: Jinchuan Electrolytic Nickel (big board) quoted price of 101300 yuan / ton in Shanghai, 102500 yuan / ton in small barreled pieces, and 100,850 / ton in Jinchang, 400 yuan / ton lower than yesterday.

[April 2020 China's refined nickel imports 9931.22 tons, exports 1717.36 tons] SMM May 26: according to customs data, China's refined nickel imports in April 2020 were 9931.22 tons, an increase of 27.7 percent over the previous month, a decrease of 44.86 percent over the same period last year; exports were 1717.36 tons, down 63.42 percent from the previous year, an increase of 293.89 percent over the same period last year.

[April 2020 Nickel Sulfate Export data-country] SMM May 26, according to customs data, April 2020 nickel sulfate export data are 10148kg in Hong Kong, China, 61300kg in Singapore, 100kg in South Korea, 1512kg in Thailand, 8500kg in Vietnam, 50kg in Taiwan, 600kg in Germany and 200kg in Australia.

Stainless steel

[Wuxi stainless Steel Daily Review on May 27th] SMM May 27th: today, Wuxi stainless steel cold and hot rolling quotations are slightly reduced, 304x2B rough edge coiling price range 13400m2 13700 yuan / ton, 304 / NO.1 13100Mel 13200 yuan / ton; the average price is reduced by 50 yuan / ton. The volume price of 304x2B factory is 13900mur14100 yuan / ton, and the price is stable. Today, Qingshan Iron and Steel works updated the new price of cold and hot rolling in July at the same price as the last price, with 304ft cold rolling at 13100 yuan / ton, five feet at 13300 yuan / ton, and hot rolled board at 12800 yuan / ton. According to traders, the end of the month is approaching, the spot market transactions in general, individual merchants slightly reduced the price of shipments. Some merchants hold a weak attitude towards the demand in late June, and the futures prices of superimposed steel mills have also been reduced, and it is expected that stainless steel prices will be stable and weak in the later period. For 10:30 SHFE SS2007 contract price is 13175 yuan / ton, Wuxi stainless steel spot water is 395mur695 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] SMM May 27: yesterday afternoon, some cold and hot rolling in the market had a small spot pullback of 50 yuan / ton shipments, although most of the market is not willing to callback steel prices, but in the face of weak demand at the end of the month, some businesses need capital turnover to choose flexible trading methods, and steel prices of various departments are expected to operate steadily and slightly in the short term. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than yesterday's average price held steady at 14,100lb 14,300 yuan / ton, private 304Universe 2B rough edge curl than yesterday's average price was unchanged at 13300ly13600 yuan / ton, 304 / NO. 1 five-foot quotation was slightly lower than yesterday's average price of 50 yuan / ton at 13000Mui 13200 yuan / ton, to 10:30 SHFE SS2007 contract selling price of 13175 yuan / ton, Foshan stainless steel spot water 295Kui 595 yuan / ton. (spot trimming = rough edge + 170).

SMM5 March 27 News: today, Qingshan 304 hot-rolled plate July futures quoted at 12800 yuan / ton, the amount to be approved. The price is even with the last offer.

SMM5 March 27 News: today, Fujian Yongjin 304 cold rolling July sales guidance price four feet quoted price 13100 yuan / ton. Guangdong Yongjin 304 cold rolling in July sales guidance price of five feet 13300 yuan / ton, the quantity to be approved. It was even at the opening of the last session.

SMM5 May 26th News: this week's Jiugang stock price (5.26Mel 6.1) is generally flat with last week, Tianjin area 304cold rolling slightly increased 50 yuan / ton compared with last week: Wuxi Jiugang weekly price: 304cold rolling trimming base price 14200 yuan / ton, flat plate; 430cold rolling base price 7200 yuan / ton, flat plate. The weekly price of Foshan Jiugang is 14250 yuan / ton, flat plate, 7200 yuan / ton, flat plate, 14150 yuan / ton, 14150 yuan / ton, 7200 yuan / ton, flat plate, flat plate.

[SMM stainless Steel Factory Weekly Price] SMM May 26: Oriental Special Steel prices are mixed this week.

[SMM stainless Steel Plant Weekly Price] SMM May 26: Jiuquan Steel 304amp 430 Series stainless Steel Weekly settlement Price

Inventory

According to SMM, as of Friday, the inventory of the previous period was down 688 tons from last week to 26799 tons, all of which came from Shanghai delivery depots. Hidden inventory in East China increased by 1793 tons to 11622 tons compared with last week, of which the inventory of nickel beans increased by 500 tons to 2200 tons. It is reported that the amount of nickel in and out of the spot warehouse is relatively large, with about 2-3 kilotons of Russian nickel in storage. Guangdong Southern Reserve stocks, mostly electroplating grade nickel, fell from 640 tons to 607 tons this week. To sum up, while the inventory in the bonded area decreased, the domestic social inventory increased by 1072 tons to 39028 tons.

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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