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[SMM Nickel spot afternoon Review] after stabilizing, Shanghai Nickel gradually returned to Jinchuan Nickel rising Water and then falling to improve transaction.
Jul 10,2020 12:16CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 10:

Today, SMM1 Electrolytic Nickel is quoted at 104700 RMB105800 per ton. Nickel futures plunged with the US crude oil yesterday, and after stabilizing today, the morning market fluctuated at 105300 yuan / ton, near the end of the day to 106000 yuan / ton. Spot market, the trading situation of traders is mixed, Jinchuan nickel shipments are slightly better than Russo nickel. In terms of liter discount, the price of Russian nickel is more stable than that of yesterday, and the price for Shanghai Nickel 2008 contract is 450 to 550yuan / ton. only a small amount in the market is lower, about 700yuan / ton. most traders hold goods with high turnover and are difficult to adjust prices. the downstream is less willing to purchase. Jinchuan nickel due to ample supply and approaching the weekend, traders have a strong willingness to ship, the market down to Shanghai nickel 2008 contract up 300 to 500 yuan / ton or so. It is reported that there are low-cost goods holders in the morning market to ship the whole car, the trading volume is OK. Jinchuan Company's ex-factory price in Shanghai today quoted 106000 yuan / ton, Gansu quoted 105550 yuan / ton, 1000 yuan / ton lower than yesterday. The contract of Nickel Bean to Shanghai Nickel 2008 is quoted at 1500 yuan per ton, and the transaction is still not good.

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