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[SMM Weekly report selected] weak consumption drags down the water and imports of pure nickel are plentiful.
May 30,2020 11:59CST
The content below was translated by Tencent automatically for reference.

"SMM Nickel Industry chain Weekly report" is released. SMM will select hot topics, prices, quotations or major changes in the industry chain and release information for your reference.

The following is an excerpt from the weekly report of the SMM nickel industry chain:


The import supply of pure nickel has increased, but the downstream demand affected by the overseas epidemic has not yet recovered, the weakness of spot consumption of nickel under the mismatch of supply and demand is gradually exposed, and the performance of spot rising water is weak. The previous platform of nickel pig iron broke and showed a downward trend, and the negative aspect mainly lies in that the purchasing strategy of large factories has an obvious impact on the short-term market, generally speaking, the short-term factors have the upper hand, but the overall supply and demand of nickel pig iron is basically within a reasonable range. therefore, its nickel ore cost support is also relatively strong, weakening space is limited.

Shanghai nickel around the 100, 000 mark shock finishing, the week SMM1 nickel spot quotation is also stable at 100,100,101950 yuan / ton. Due to the poor demand for pure nickel downstream, superimposed imports continue to enter the spot market, so that Russian nickel holders have to continuously lower quotations. It is reported that it is difficult to ship Russian nickel with a discount of 200 yuan per ton on Friday. However, Jinchuan nickel, due to the right amount of shipments from manufacturers, the market supply is tight, Shengshui is still firm.

According to customs statistics, although the total import of refined nickel decreased greatly in 2020 compared with last year, the import of electroplated nickel is gradually increasing. At the same time, the proportion of raw materials of pure nickel in stainless steel plants is reduced, and the supply of imports continues to pour into the spot market. Pure nickel imports are expected to remain on the rise in June, according to SMM.


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Catalogue of "SMM Nickel Industry chain Weekly report" in this issue

Main points of this issue's weekly report


Nickel spot: weak consumption drags down the supply of imports

Nickel downstream PMI: battery and electroplating consumption performance is poor stainless steel and alloy casting is relatively stable

Stainless steel: weak transaction this week, price reduction, profits continue to narrow, and the trend is expected to remain weak next week.

Nickel Mine: high Nickel Pig Iron Price flat deadlock breaks the declining trend Mineral prices continue to rise or provide support for Iron prices

High-carbon ferrochromium: the recruitment and increase of high-carbon ferrochromium steel is close to the market. It is expected that the manufacturer will actively buy goods and the price will be stable.

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[China Nickel Industry chain High-end report] China Nickel Industry chain monthly report includes macro interpretation, monthly review of nickel price, interpretation of hot events and future forecasts in various sections of the nickel industry chain (nickel ore, electrolytic nickel, nickel pig iron, stainless steel, ferrochromium). And release monthly relevant enterprise operating rate and inventory survey and other data, covering the entire nickel industry chain.

[China Nickel Industry chain routine report] China Nickel Industry chain Weekly report includes macro interpretation, weekly review of nickel price, market trends of various sections of nickel industry chain (electrolytic nickel, nickel pig iron, stainless steel, ferrochromium), weekly social inventory, future forecast, comprehensive interpretation of the nickel market in the week.

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