Nickel price judgment: the futures nickel is high, the spot pure nickel turnover is light; the mine end shortage continues, the market price has no market; the nickel iron supply and demand temporarily maintains the relatively balanced state, the market price maintains the stable operation; the stainless steel futures increases slightly stimulates the spot price, the market transaction is general. At present, metal prices are in a strong state under financial stimulus, although it is not easy for nickel prices to break through the upper platform due to the lack of fundamentals, and there are more air operators, but it is difficult to have a sharp correction trend in the short term, and high-level shocks are expected to dominate. Overnight, Shanghai nickel closed at Xiaoyin column, and the center of gravity of k-column was located near 108800 yuan / ton of the 5-day moving average. Today, we will pay attention to the operation of Shanghai Nickel pressure 109000 gate.
1. July 14th SMM1 Electrolytic Nickel quotation 107450 Mill 108450 yuan / ton. After today's high opening and low return of overnight gains, the Shanghai Nickel 08 contract still fluctuates around 108000 yuan / ton, and the purchasing willingness of users downstream of nickel spot is not high, only a small number of customers just need to pick up the goods in the morning, and there is almost no trading in the afternoon. Liter discount, more traders reported in the paste 500 yuan / ton, the market has a small number of low-cost sources of goods posted 600 yuan / ton, the transaction situation has not changed much from yesterday. Jinchuan Nickel to Shanghai Nickel 2008 contract is up about 300 yuan / ton, a small number of traders to promote terminal pick-up, to allow a small amount of shipments to Shengshui 200 yuan / ton. The ex-factory price of Jinchuan Company is 108500 yuan / ton in Shanghai and 108050 yuan / ton in Gansu. Nickel beans to Shanghai Nickel 2008 contract quoted 1600mur1500 yuan / ton, slightly larger than yesterday.
2. On July 14, the ex-factory price of SMM high nickel pig iron is 960 won 965 yuan per nickel point (including factory tax), which is the same as the average price of the previous trading day. In the afternoon, the purchase price of high nickel pig iron in a stainless steel factory in East China was raised to 980 yuan / nickel point (including tax to the factory), which was 5 yuan / nickel point higher than the highest price in the previous market. After the nickel price rose sharply, the downstream inquiry mood has been low and the quotation is less. And the quotation does not follow the rising trend of nickel price, or is flat or slightly reduced. This transaction price appears or becomes a manifestation of ferronickel price and pure nickel, but it is suppressed by stainless steel profit space. The room for concession is limited, and it is expected that the price of ferronickel will rise somewhat in the short term, but the increase is limited, and the high position is difficult to break the thousand yuan mark.
3. On July 14, the spot cold and hot rolling prices of stainless steel in Wuxi were raised slightly, 304 cold rolling reported 13550 won 13750 yuan / ton, all increased by 100 yuan / ton; 304 hot rolling today reported 13050 Mui 13150 yuan / ton, both 100 yuan / ton higher than yesterday; large factory cold rolling trimming price of 14000 Mill 14100 yuan / ton, all increased by 50 yuan / ton. Recently, due to the increase in the futures price of nickel and stainless steel, it has a certain stimulating effect on the spot price. Superimposed on the current stainless steel market, there is not much liquidity in the spot market, and there is a certain support for the price, so the spot price trend is strong at present. Today, the stainless steel futures contract is still at a slight discount to the spot price, SHFE10 point 30 SS2009 contract price 13580 yuan / ton, Wuxi stainless steel spot price 140mur340 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)