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[SMM Weekly selection] the limited delivery makes Jinchuan Nickel Shengshui temporarily strong and the overall trading atmosphere is still low.
Jul 4,2020 13:48CST
translation
Source:SMM
[SMM Weekly selection: limited delivery makes Jinchuan Nickel Water temporarily strong overall trading atmosphere is still low] as long-term Association traders pick up goods in Gansu one after another after the holiday, although a small amount of goods arrived in Shanghai, they sold out in the morning market that day. In terms of transaction, Jinchuan Nickel is slightly better than Russo Nickel, mainly because the supply of goods is tight and traders are more willing to replenish the stock, while the downstream users of Russo Nickel are afraid of high wait-and-see, so the trading atmosphere is limited during the week.
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:

 

During the week, the nickel price basically fluctuated around the previous position, and the fundamentals were weak but mostly known news, such as the increase in the supply of nickel pig iron and the pressure on stainless steel market shipments in the off-season, etc., on the whole, the short-term contradiction is not obvious; in the macro aspect, some overseas data are bright, and in the major links, we can see that overseas countries are still following the logic of consumer recovery, coupled with the fact that national policies support enterprises to a certain extent, and the macro side is relatively preferred. Under the comprehensive action, the nickel price fluctuates in the range. Due to the sharp rise in nickel prices on Friday, and there are no obvious positive factors in the fundamentals, including the protest by residents near Weda Bay on Friday, which seems to be hyped, the effect on the market may be limited, and the mindset of shorting when going high is obviously enhanced.

 

 

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

Main points of this issue's weekly report

Downstream of nickel: PMI barely maintained above the rise and fall line in June, the off-season index in July may weaken.

Nickel spot: limited delivery makes Jinchuan Nickel Shengshui temporarily strong and the overall trading atmosphere is still low.

Nickel pig iron: nickel pig iron talks about weakening center of gravity stainless steel plant suppresses purchase price

Stainless steel: the overall profit of 300 series stainless steel plant is not ideal.

High-carbon ferrochromium: procurement demand of stainless steel plant is still stable. Bidding price of ferrochromium is under pressure after the decline of chromium ore.

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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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