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[nickel market today] the spot market continued to be light in the morning, and Jinchuan's rising water fell back and did not improve the transaction.
Jul 9,2020 12:29CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 9: today's SMM1 Electrolytic Nickel quotation 106100PUE 107100 yuan / ton. The futures nickel 08 contract fluctuated around 106500 yuan / ton after the morning market opened, and the trading atmosphere in the spot market was still light. In the second trading session, the nickel price once fell below 106000 yuan / ton, and a small number of transactions were reached one after another, but it rose in late trading so that some orders slipped. In terms of discount, Russo Nickel to Shanghai Nickel 2008 contract offer 550-paste 450 yuan / ton, few transactions in the morning. Jinchuan Nickel to Shanghai Nickel 2008 contract rose about 400 won 600 yuan / ton, rising water lower also failed to attract terminals to pick up goods, there is a small amount of circulation among traders. "View details

[ex-factory price of Jinchuan Company] on July 9th, Jinchuan Company quoted electrolytic nickel (big board) at 107000 yuan / ton in Shanghai, 108200 yuan / ton in small barreled pieces, and 106550 yuan / ton in Jinchang, which was the same as yesterday.

On July 8th, the ex-factory price of SMM high nickel pig iron is 960mur965 yuan / nickel point (including factory tax), which is the same as the average price of the previous trading day. Nickel futures maintain a rising market, Nickel Iron has no rising mood for the time being, the market trend is stable, trading is light. The production and transportation of high nickel pig iron have not been significantly affected by the recent heavy rain all over the country.

On July 8, due to the pull up of nickel in Shanghai, it stabilized at a recent high of about 107400 yuan / ton in the past two days, and the nickel sulfate plant began to have a strong willingness to raise its price. The mainstream quotation of battery-grade nickel sulfate has reached 2.35-24000 yuan / ton, and the acceptable market transaction price of nickel sulfate plant is 2.33-23500 yuan / ton. However, considering that the fundamentals have not improved, the downstream buyers of battery-grade nickel sulfate generally hold a weak attitude towards the late nickel sulfate price, and the wait-and-see mood is strong at present.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, the spot price of stainless steel in Wuxi is generally flat, with 304 cold rolling reported 13450 Mel 13650 yuan / ton and 304 hot rolling reported 12900 Mel 13000 yuan / ton. Traders reflect that the mainstream specifications of the market are still not much at present, and the price is firm. But the performance of the transaction is general, after the arrival of steel mills, depending on their own inventory and willingness to ship, the price may fluctuate slightly, but the range will not be too large. Today, SHFE 10: 30 SS2009 contract price 13530 yuan / ton, Wuxi stainless steel spot water 90mur290 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] the overall market price of 300 series cold and hot rolling has risen slightly by 50% today. According to most cold rolling and trimming traders, although some brands of thin materials are still out of stock, the performance of inquiry orders and futures orders at the market terminal is relatively good. Merchants reflect that the demand release of the household appliance industry in the lower reaches of South China from July to August has improved compared with the previous period, so there is a significant increase in steel procurement at present. In terms of quotations for steel products of various departments in Foshan area, the state-owned 304 NO. 2B trimming coiling price is another 50 yuan / ton higher than yesterday's average price at 14200 SHFE SS2008 14400 yuan / ton, while private 304Candle 2B rough edge roll is 50 yuan / ton higher than yesterday's average price at 13450 Mill 13650 yuan / ton, 304 / CPT 1 five-foot quotation is 50 yuan / ton higher than yesterday's average price at 12900 13100 yuan / ton, for 10:30 SHFE SS2008 contract selling price 13530 yuan / ton, the price is 50 yuan / ton higher than yesterday's average price, and the selling price of private 304 Universe 2B rough edge rolls is 50 yuan / ton higher than yesterday's average price. Foshan stainless steel spot water 90mur290 yuan / ton. (spot trimming = rough edge + 170).

On July 9, the price of high-carbon ferrochromium across the country was stable today. The mainstream price of high-carbon ferrochromium in Inner Mongolia is 5900mur6100 yuan / 50 base tons, the northwest region is 6100mur6200 yuan / 50 base tons, and Sichuan is 6300mur6400 yuan / 50 base tons. The wait-and-see mood of downstream traders is still strong, and the market trading volume is relatively light. The furnace body of a high-carbon ferrochromium factory in northwest China is overhauled this month, and normal production is expected to resume in September, and the output of ferrochromium in the northwest region may decline in the third quarter.

[SMM steel mill guidance price] on July 9, the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. rose 100 yuan / ton compared with yesterday. "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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