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[today's Nickel Market] Nickel Morning Market explores the low return to rise spot trading atmosphere is still light
Jul 15,2020 13:55CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron,

Nickel spot: July 15: today SMM1 Electrolytic Nickel quotation 107300Mel 108400 yuan / ton. Nickel futures fell slightly after the opening of trading this morning. After falling 107000 yuan / ton in the second trading session, it almost recovered its decline. Users downstream of the spot market continued to wait and see, and the trading atmosphere in the market has not improved yet. Russo Nickel to Shanghai Nickel 2008 contract quoted 500 to 600 yuan / ton, some in the market shipping willingness has increased, the quotation has been lower than yesterday, but the transaction is still not good. Jinchuan Nickel 2008 contract against Shanghai Nickel rose 200 million yuan / ton, and the price of low-rise water in the market was higher than that of yesterday, and there were sporadic transactions in the morning.

[ex-factory price of Jinchuan Company] the ex-factory price of Jinchuan was quoted at 107800 yuan / ton on July 15, and manufacturers continue to actively ship goods, and Jinchuan Shengshui is expected to be weak and stable. Nickel beans to Shanghai Nickel 2008 contract quoted price of 1500 yuan / ton.

The ex-factory price of SMM high nickel pig iron is 960mur965 yuan / nickel spot (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.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, the cold and hot rolling prices of stainless steel in Wuxi were all flat, with 304 cold rolling at 13550 Mel 13750 yuan / ton, and 304 hot rolling today at 13050 Mel 13150 yuan / ton. Recently, stainless steel trading is slightly calm, but merchants inventory is not high, supply and demand are both weak, the price trend is affected by futures contracts and nickel prices, today's quotation is stable, the actual transaction has a small profit adjustment room. Today, the stainless steel futures contract is still at a slight discount to the spot price, SHFE10 point 30 SS2009 contract price 13570 yuan / ton, Wuxi stainless steel spot price 150 Mel 350 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless Steel afternoon Review] Today, the stainless steel market quotations of various departments maintained stable operation compared with yesterday, and most agents slightly increased 50 yuan / ton for specifications with better transactions, but the demand for goods from 300 series cold and hot rolling terminals in the market has improved recently. Steel prices have gradually stabilized under the support of just need in the short term. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than yesterday's average price at 14,250won 14450 yuan / ton, private 304Universe 2B rough edge curl than yesterday's average price stable at 13500 NO. 13700 yuan / ton, 304 / NO. 1 five-foot quotation is unchanged at 12950MIT 13150 yuan / ton, to 10:30 SHFE SS2008 contract selling price 13570 yuan / ton, Foshan stainless steel spot water 100,300 yuan / ton. (spot trimming = rough edge + 170).

On July 15, the national high-carbon ferrochrome factory quoted today to maintain yesterday's price reduction. Although the mainstream quotation in Inner Mongolia is 5900 won 6000 yuan / 50 base tons, but the lowest transaction price is 5800 yuan / 50 base tons, the Sichuan quotation has also been reduced by about 50 million yuan / 50 base tons, and the mainstream transaction price is around 6250 yuan / 50 base tons. The upstream mainstream chromite market price has fallen by 0.5 yuan / tonnage this week, which has affected the mentality of iron factory quotation to a certain extent, and there are great differences in judging the market for the actual supply and demand of ore and iron in the future. or think that the terminal stainless steel consumption is difficult to increase and lead to a fall in the price of high-carbon ferrochromium or that the import volume of ferrochromium in South Africa will decline and raise the price of domestic ferrochromium.

July 15: Qingshan Iron and Steel Plant cold rolled coil, plate open coil sales guide price: 201/j1 four-foot cold rolling 7150 yuan / ton, 201/j2 four-foot cold rolling 6800 yuan / ton, delivery in August, the quantity to be approved. The price is level with the opening of the steel mill on July 2nd. Flat plate sales guidance price: 201/j1 four-foot cold rolling 7150 yuan / ton, 201/j2 four-foot cold rolling 6800 yuan / ton, this price is 100 yuan / ton higher than the opening on July 2. The price of the plate is the same as that of the plate.

[SMM pure nickel domestic stock increased by 486t compared with last Friday]

According to SMM, as of Friday, the social inventory of), SMM pure nickel was about 42800 tons, an increase of 486tons from last Friday. This week, inventories in the previous period increased by 73 tons to 29495 tons. Hidden inventories in East China increased by 383 tons to 13005 tons, of which nickel bean stocks fell by 1200 tons to 2700 tons, while more than 1,000 tons of nickel plates were declared to be imported one after another, resulting in an overall increase in spot warehouse inventories. Guangdong Southern Reserve stocks rose 30 tons to 280 tons this week. According to the survey, the import of nickel beans will be reduced in the later stage, and the inventory of nickel beans will gradually decline, while in terms of nickel plate, if the consumption is not good, it may continue the trend of base storage.

 

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