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[today's Nickel Market] Nickel futures price is higher than yesterday's spot price, holding steady and the transaction is limited.
Jul 2,2020 13:52CST
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 2: today SMM1 Electrolytic Nickel quotation 101650Mel 103150 yuan / ton. The nickel morning market fluctuates around the 5 / 40 daily moving average, and its operating range is higher than that of yesterday's daily trading. The trading situation in the market has not yet picked up, and only individual traders can make a deal. Russo Nickel to Shanghai Nickel 2008 contract quoted for 500mur400 yuan / ton, the same as yesterday, the trading volume of most traders is limited, only a small number of bulk shipments. Jinchuan No.1 Nickel to Shanghai Nickel 2008 contract rose 800mur900 yuan / ton, the market supply is still tight, the room for traders to move goods is limited, the terminal transaction is up 850Mel 900 yuan / ton. The ex-factory price in Jinchuan, Shanghai and Gansu is 102800 yuan / ton and 102350 yuan / ton respectively. The nickel bean newspaper sticker is 1400 won 1300 yuan per ton, which is still the same as yesterday.

[ex-factory price of Jinchuan Company on July 2nd] Jinchuan Electrolytic Nickel (big board) quoted price of 102800 yuan / ton in Shanghai, 104000 yuan / ton in barreled small pieces, and 102350 yuan / ton in Jinchang, an increase of 200 yuan / ton compared with yesterday.

On July 1st, the ex-factory price of SMM high-nickel pig iron was 960 RMB965 per nickel spot (including factory tax), which was the same as the average price of the previous trading day. Trading in the high-nickel pig iron market is light today, and there are no inquiry quotations from mainstream stainless steel factories. Most of the prices between buyers and sellers are near the break-even balance, and the price game is strong, but under the suppression of Indonesian nickel-iron costs, it is difficult for domestic iron mills to push up prices. Short-term high-nickel pig iron prices still have downside risks.

On July 1, according to the latest customs data, in May 2020, China's imports of nickel wet smelting intermediates totaled 34200 tons, up 25500 tons from the previous month, an increase of 296 percent from the previous month, and an increase of 228 percent over the same period last year.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, the spot price of stainless steel in Wuxi area is mainly stable, but some brands have adjusted slightly. 304 cold rolling reported 13300 million yuan / ton, the average price increased 50 yuan / ton, and the hot rolling newspaper range 12850 million yuan / ton. At present, stainless steel off-season reasons, the overall market turnover is weak, but the market supply is not much, the price is generally stable, with the steel mill price for a small adjustment, but the actual transaction is basically unchanged. Today's Qingshan 201 cold rolling price update, sales guidance price: 201/j1 four-foot cold rolling 7150 yuan / ton, 201/j2 four-foot cold rolling 6800 yuan / ton, delivery in July, quantity to be approved. The price is 100 yuan / ton lower than last time. Today, SHFE 10: 30 SS2008 contract price of 13240 yuan / ton, Wuxi stainless steel spot water 230 Murray 530 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] Today, the prices of cold and hot rolled steel of all departments in Foshan basically maintained a stable operation compared with yesterday. At the beginning of the month, traders reflected that the purchasing demand downstream was slightly general in July, and the room for bargaining was limited when purchasing was just needed. Affected by the guidance prices of various departments of steel mills, the price of stainless steel in South China has been adjusted steadily and slightly in the short term. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than yesterday's average price stable at 14000won 14200 / ton, private 304Universe 2B rough edge curl than yesterday's average price stable at 13,250ly13450 yuan / ton, 304 / NO. 1 five-foot quotation is unchanged at 12800benefit 12900 yuan / ton, to 10:30 SHFE SS2008 contract selling price 13240 yuan / ton, Foshan stainless steel spot water 230fringe 430 yuan / ton. (spot trimming = rough edge + 170).

[SMM steel mill guidance price] Wuxi Taigang spot daily guidance price is the same as yesterday. "check the details."

On July 1, the bidding prices of high-carbon ferrochromium in mainstream stainless steel factories were all settled, all of which fell by 100 yuan / ton compared with the previous month. Some operators said that this trend was basically in line with psychological expectations. At present, July and August are the traditional off-season of stainless steel, but at present, the estimated output of stainless steel plants in China is still high, individual stainless steel plants are in full production, and the possibility of a substantial reduction in the demand for high-carbon ferrochromium within the month is low. At the same time, the epidemic situation in South Africa is uncertain. The price of the outer disk of 40% of the chromium concentrate in South Africa is firm at the relatively high level of US $160 / ton, and the short-term cost support is also strong.

[inventory of pure nickel in Shanghai bonded warehouse increased by 400 tons to 16000 tons this week]

According to SMM, the inventory of pure nickel in Shanghai Free Trade Zone increased by 400 tons to 16000 tons last Wednesday compared with the previous Friday. The exchange rate has fallen slightly this week, but the import loss is still high and there is still no trading in foreign trade in the bonded area. This week, there are long-term nickel plates coming to Hong Kong to enter the bonded area, and another part of the goods enter the domestic social warehouse. As a result, as of last Wednesday, the inventory of pure nickel in the Shanghai Free Trade Zone was 16000 tons, an increase of 400 tons over the previous Friday.

According to SMM research, nickel mine inventories in all ports across the country fell 100000 wet tons to 7.99 million wet tons on June 24 compared with last week, with a total metal volume of 65000 tons, a decrease of 800 nickel tons compared with June 19. Among them, the inventory of nickel mines in the country's seven major ports was 6.95 million tons, a decrease of 100000 tons compared with June 19.

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