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[today's Nickel Market] after Shanghai Nickel stabilized, Jinchuan Nickel gradually rose and then fell and the transaction improved.
Jul 10,2020 13:43CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 10: today SMM1 Electrolytic Nickel quotation 104700 Mel 105800 yuan / 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.

[ex-factory price of Jinchuan Company] on July 10, Jinchuan Electrolytic Nickel (big board) was quoted at 106000 yuan / ton in Shanghai, 107200 yuan / ton in barreled pieces, and 105550 yuan / ton in Jinchang, 1000 yuan / ton lower than yesterday.

[the national output of electrolytic nickel in June 2020 was 15100 tons, an increase over the same period last year.] on July 9, the national output of electrolytic nickel in June 2020 was 15100 tons, an increase of 7.32 percent over the previous month and 20.03 percent over the same period last year. The total output in June was 1030 tons higher than that in May. Among them, the output of Gansu smelter increased by nearly 1000 tons over the previous month, returning to the output level of March and April. It is reported that the annual output plan remains unchanged, and there may be a follow-up maintenance period, but the time has not yet been determined. The output of Xinjiang smelter also increased slightly in June compared with the previous month. Jilin smelter is still flat compared with the previous month; Tianjin smelter output gradually recovered this month, this month increased to 260 tons; The output of Shandong smelter has declined somewhat, which is mainly restricted by overseas raw material procurement, while Guangxi smelter continues to suspend electrolytic nickel production.

On July 9th, the ex-factory price of SMM high nickel pig iron was 960mur965 yuan / nickel point (including factory tax), which was the same as the average price of the previous trading day. At present, the market price of high-nickel pig iron is in a state of difference between rising and falling, and the prices of nickel and stainless steel are higher than those in the previous period. driven by the rising market, the price mentality of high-nickel pig iron holders tends to go higher. However, the profit of the downstream stainless steel plant is limited, and the retractable space is relatively small, but at present, the spot negotiable supply of high nickel pig iron market flows from the nickel iron factory to the middleman, and the probability of the middleman shipping at low price is low, therefore, if the nickel price and stainless steel price can maintain a stable high position in the short term, the price of high nickel pig iron can rise slightly, but the rising space is suppressed by the gradual increase of Indonesian production.

Stainless steel, ferrochromium

[afternoon Review of stainless Steel in Wuxi area] Today, the price of cold and hot rolling of stainless steel in Wuxi area is generally flat, with 304 cold rolling reporting 13450 RMB13650 / ton and 304 hot rolling reporting 12900Mel 13000 yuan / ton. At present, the arrival volume of steel mills in Wuxi market is limited, and the supply of cold and hot rolling circulation is on the low side, so the spot price is still strong when the demand is weak. Today's transaction is general, the price is generally quoted flat for shipment. Today, SHFE 10: 30 SS2009 contract price 13435 yuan / ton, Wuxi stainless steel spot water 185mur385 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] the overall steel price in South China remained stable on Friday, and the transaction performance in some private resources markets was still out of stock, and most of the better specifications of most merchants were temporarily sold at standing prices. in the long term, most traders said that they would take orders to see the quantity, and the final price may have a little room for profit, but the steel price atmosphere is obvious in the short term. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than yesterday's average price stable at 14,200 million / ton, private 304Universe 2B rough edge curl than yesterday's average price stable at 13450 NO. 13650 yuan / ton, 304 / NO. 1 five-foot quotation is unchanged at 12900buy 13100 yuan / ton, to 10:30 SHFE SS2008 contract selling price 13435 yuan / ton, Foshan stainless steel spot water 185ml 385 yuan / ton. (spot trimming = rough edge + 170).

On July 10th, the national price of high chromium remained stable. The quotation in Inner Mongolia remained at 5950mur6000 yuan / 50 base tons, and the actual transaction was 5900won 5950 yuan / 50 base tons. There are also individual factories whose quotations are still maintained at 6000 yuan / 50 base tons and above, and the price is still relatively strong. It is understood that the current market start-up situation is still relatively high, and factories in many areas say that profits are very low at present, and mineral prices inside and outside the upstream remain high. Northern steel mills are seasonally overhauled in July, and demand may decrease slightly in the second half of July, when profits may continue to decline.

[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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