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[today's Nickel Market] Nickel Morning Market rose more than 2%. Spot buyers stopped at the market for a small amount of circulation.
Jul 3,2020 14:04CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 3: today SMM1 Electrolytic Nickel quotation 103900Mel 105100 yuan / ton. Early nickel opened soon after the horizontal trading rose sharply, the second period of high concussion in the 104500 yuan / ton line. Due to the sharp rise in prices and the approach of the weekend, buyers stopped to wait and see, and the morning transaction was relatively dull. Russo Nickel to Shanghai Nickel 2008 contract offer 500-400 yuan / ton, the discount range is firm, the attraction to the downstream is limited, and the trading volume is not good. The 2008 contract of Jinchuan Nickel to Shanghai Nickel rose 700 won 800 yuan / ton. Jinchuan Company's ex-factory price was 105000 yuan / tonne. Today, the factory delivered nearly 100 tons of goods in Shanghai. It is reported that due to the limited supply of goods in the market, traders actively took the goods and sold out in the morning. Downstream delivery is also limited. The price of nickel beans remains unchanged, and the price for the Shanghai Nickel 2008 contract is about 1400 yuan / ton.

[July 3 ex-factory price of Jinchuan Company] Jinchuan Electrolytic Nickel (big board) quoted price of 105000 yuan / ton in Shanghai, 106200 yuan / ton in small barreled pieces, and 104550 yuan / ton in Jinchang, an increase of 2200 yuan / ton compared with yesterday.

On July 2nd, 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. Today, there is no mainstream inquiry price in the high nickel pig iron market, the market turnover is still light, the bearish mentality of steel mills is enhanced, and the intention to replenish the stock is worse than in the earlier period. The purchasing rhythm is broken into parts, and the cost is balanced in a small number of times. The iron factory is affected by the rising price of nickel ore in stock, the cost increases, and the willingness to ship at this price is poor, but the price is not as firm as in the early stage.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, some traders of stainless steel 304 cold rolling in Wuxi area made a slight adjustment, and the overall range was still reported at 13300, 13600 yuan / ton, while hot rolling quotation was stable at 12850, 12950 yuan / ton. According to traders, the cold rolling transaction is OK this week, there is not much cold rolling supply in the market, and the hot rolling performance is slightly weaker. Today, Castle Peak 304 cold and hot rolling announced the new price, which is the same as the previous price. The supply of hot rolled plates is 12800 yuan / ton in July and 12500 yuan / ton in narrow band in August. The price of cold rolling is 13100 yuan / ton for four feet and 13300 yuan / ton for five feet. The futures contract of the previous period has been changed to the SS2009 contract, and the stainless steel contract continued to rise from last night to early morning trading, and the current price difference narrowed to within 100 yuan / ton. Today, SHFE 10: 30 SS2009 contract price of 13405 yuan / ton, Wuxi stainless steel spot water 65 won 365 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] on Friday, the guidance price of private 200 series cold rolling in Foshan was reduced by 50 yuan / ton, the enthusiasm of picking up goods at the market terminal was not high, and the other 300 series hot rolling also had a slight downward trend. according to traders, individual 300 series resources in the market are still out of stock on Friday, and there are not many orders signed for other steel resources from July to August, so the actual transaction operation is more flexible. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price increased by 100 yuan / ton compared to yesterday's average price at 14,100 Merry 14300 yuan / ton, private 304Universe 2B rough edge curl than yesterday's average price stable at 13250 NO. 13450 yuan / ton, 304 / NO. 1 five-foot quotation was slightly lower than yesterday's average price of 50 yuan / ton at 12800 RMB12900 / ton, to 10:30 SHFE SS2008 contract selling price of 13405 yuan / ton, Foshan stainless steel spot water 65,265 yuan / ton. (spot trimming = rough edge + 170).

[stainless steel price-304hot rolling] on July 3rd, the sales guidance price of Qingshan 304 hot rolled plate was 12800 yuan / ton. In July, the quoted volume was to be approved, which was flat compared with the previous month. The hot-rolled narrow strip is 12500 yuan / ton, which is the same as the previous offer price in August, and the quantity is to be approved.

According to the global stainless steel production data for the first quarter of 2020 released by the International stainless Steel Forum (ISSF), the global stainless steel output in the first quarter reached 11.69 million tons, down 8.0% from the same period last year; its Chinese stainless steel production in the first quarter was 6.08 million tons, down about 9% from the same period last year.

July 3, Fujian Yongjin 304 cold rolling August sales guidance price of 4 feet 13100 yuan / ton, Guangdong Yongjin 304 cold rolling August sales guidance price of 5 feet 13300 yuan / ton, the quantity is subject to approval. The price is even with the last offer.

On July 3, the high-carbon ferrochromium market still maintained stable operation. The mainstream quotation in the northern market was around 6000 yuan / ton, while that in the southern market was 6400 million yuan / ton. Although the retail market price of high-carbon ferrochromium dropped slightly after the steel recruitment was settled, the mood of the downstream traders to take goods was still general, while the upstream chromium ore inventory continued to decline and the price was high. The current production cost of the ferrochrome factory has been basically the same as the market price. Whether the future ironworks take the initiative to reduce prices in order to maintain stable shipments remains to be played by the market.

[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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