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[SMM Nickel spot afternoon Review] Nickel Morning Market surged to a five-month high in the past five months. The restrained atmosphere of spot trading is light.
Jul 6,2020 12:35CST
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SMM, July 6:

Today, SMM1 Electrolytic Nickel is quoted at 104100Mel 105600 yuan / ton. Nickel opened at 104600 yuan / ton in the morning market, and gradually began to break through after 10:00. The morning market closed up by about 2.5%. The 08 contract stood at 106600 yuan / ton, and the main contract reached around 107200 yuan / ton. In the spot market, the downstream demand is restrained by the rising trend, and the atmosphere is gradually weakening. In terms of discount, Russo Nickel to Shanghai Nickel 2008 contract offer 500 to 450 yuan / ton, some traders at the opening of the morning market about 450 yuan / ton reached a small number of transactions, after the nickel price went up, the transaction is mostly about 500 yuan / ton, but the downstream demand is poor, so the total transaction volume is limited. In Jinchuan Nickel Morning Market, the contract for Shanghai Nickel 2008 rose 700 to 800 yuan / ton, and the transaction was also poor. Jinchuan Company's ex-factory price was 107000 yuan / ton today. In the second trading session, some consignors lowered their quotations to around 650 yuan / ton, but there are still few receivers. For nickel beans, the discount is still quoted as 1400 yuan / ton for the Shanghai Nickel 2008 contract.

 

 

 

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