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[today's Nickel Market] Nickel Morning rose to a five-month high in the past five months. Spot trading has been restrained and the atmosphere is light.
Jul 6,2020 13:44CST
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 6th: today's SMM1 Electrolytic Nickel quotation 104100ml 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.

[ex-factory price of Jinchuan Company] on July 6th, Jinchuan Electrolytic Nickel (big board) was quoted at 107000 yuan / ton in Shanghai, 108200 yuan / ton in small barreled pieces, and 106550 yuan / ton in Jinchang, an increase of 2000 yuan / ton compared with yesterday.

According to customs data, in May 2020, China's total export of nickel sulfate was 92 tons, an increase of 10 tons from the previous month, an increase of 12% from the previous month, and an increase of 60% over the same period last year. The total import volume was 164 tons, a decrease of 204 tons from the previous month, or 56% from the previous month. Net imports were 71 tons, down 75% from the previous month and 73% from the same period last year.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, Wuxi stainless steel 304 cold and hot rolling rose slightly, with the rough edge coiling price of 304 hot rolling quoted at 13400 Mel 13600 yuan per ton and hot rolling reported at 12900 Mel 13000 yuan per ton. Dachang trimmed 304 cold rolling slightly increased by 50 yuan / ton to 1390014000 yuan / ton. Today, the heavy rain in Wuxi has a certain impact on the shipment and arrival transportation of stainless steel. However, according to traders, since last week, the trading situation of stainless steel has improved slightly compared with June. On the one hand, the rise in futures contract prices has had a certain stimulating effect, on the other hand, because there is some procurement demand in the lower reaches at the beginning of the month, and there are new sources of goods in the market, specifications have been supplemented, and transactions have improved. Today, SHFE 10: 30 SS2009 contract price 13290 yuan / ton, Wuxi stainless steel spot water 280mur480 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] at the beginning of the week, the overall steel prices of all series in Foshan maintained a calm shipping atmosphere. Over the weekend, some 300 series cold rolling individual specifications traded better, and the price increased slightly, but the late market orders returned to general. Merchants said that there was still a small amount of room for bargaining, and steel prices were adjusted steadily in the short term. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than last Friday average price remains stable at 14,100m2 14,300 yuan / ton, private 304Universe 2B rough edge curl than last Friday average price stable at 13300 NO. 13500 yuan / ton, 304 / NO. 1 five-foot quotation is unchanged at 12800tel 12900 yuan / ton, to 10:30 SHFE SS2008 contract selling price 13290 yuan / ton, Foshan stainless steel spot water 180Mul 380 yuan / ton. (spot trimming = rough edge + 170).

On July 6, the price of high-carbon ferrochromium in North China was lowered, and the factory quoted 5950 million yuan / 50 base tons, which was about 50 yuan / 50 base tons lower than last week, and the actual transaction was 5900 million yuan / 50 base tons, which was no significant change compared with last week. Although the price of ferrochrome is falling, the price of chromium ore market is still strong. The price of 40% chromium concentrate in South Africa remains at 3032 yuan / tonnage. On the one hand, the national inventory is 3.537 million tons, which is 5% lower than that of last week. On the other hand, the outer disk quotation also remains relatively high and stable. Today, South Africa's SFA reported the news of a shutdown of local truck drivers, the relevant market is boiling, but SMM has not yet been confirmed, the information is true or false to be verified.

[SMM steel mill guidance price] on July 6th, the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. rose 100 yuan / ton compared with last Friday. "check the details.

[SMM pure nickel domestic stock decreased by 468t compared with last Wednesday]

According to SMM,), SMM's social inventory of pure nickel stood at 42300 tons as of Friday, down 468 tons from last Wednesday. Inventories in the previous period of the week increased by 431 tons to 29422 tons, with the increase still coming from delivery depots in the Shanghai area. Due to poor trading in the spot market, the holder is still willing to deliver positions, while some Russian nickel will arrive in Hong Kong in the near future, which will also be used for delivery in the later stage. In terms of recessive inventory in East China, there are nearly 500 tons of nickel beans in storage this week, and the current inventory of nickel beans is about 3900 tons; on the other hand, after part of the nickel plate inventory is shipped to the delivery warehouse, after superimposing some downstream users at the beginning of the week to pick up the goods, the nickel plate inventory has dropped sharply during the week, so the overall hidden inventory in East China has dropped by 849 tons to 12622 tons. Guangdong Southern Reserve stocks fell 50 tons to 250 tons this week.

On July 3, the inventory of nickel mines in all ports across the country increased by 85000 wet tons to 8.078 million wet tons compared with the previous week, with a total metal volume of 65500 tons, an increase of 500 nickel tons over June 24. Among them, the inventory of nickel mines in the country's seven major ports was 6.9 million tons, 50, 000 tons less than on June 24.

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