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[today's Nickel Market] Nickel Morning Market has been continuously lower and the spot trading atmosphere has warmed up to a limited extent.
Jul 16,2020 13:45CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 16: today SMM1 Electrolytic Nickel quotation 106050 Mel 107050 yuan / ton. Today, the trading price of nickel in Shanghai is lower than that in the first half of the week, and in the second trading session, it has dropped to around 106000 yuan / ton. although the price of nickel has fallen, the recovery of spot transactions in the morning market is limited, and the market transaction is still dominated by Jinchuan nickel. Rising water quotation, Russo Nickel to Shanghai Nickel 2008 contract quoted 500 to 600 yuan / ton, bargain purchase in the lower reaches of the morning market, but mostly with small orders. Jinchuan Nickel to Shanghai Nickel 2008 contract rose 200 yuan / ton to 350 yuan / ton, the market supply is more sufficient to offset, more traders Shengshui quotation recorded a deal at a low level. The ex-factory price of Jinchuan Company was quoted at 106700 yuan / ton, but after the price fell, the willingness of traders to accept goods gradually weakened. The contract of Nickel Bean to Shanghai Nickel 2008 is still quoted at 1500 yuan / ton.

[ex-factory price of Jinchuan Company] on July 16th, Jinchuan Electrolytic Nickel (large Board) was quoted at 106700 yuan / ton in Shanghai and 106250 yuan / ton in Jinchang, 1100 yuan / ton lower than yesterday.

On July 15, 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. The inquiry price of stainless steel factory is slightly raised to 980 yuan / nickel point (including factory tax), and the rising mentality of quotation downstream stimulates the psychology of holding up price. The quotations of ironworks and traders are mainly around 960 house price 970 yuan / nickel point (including factory tax), and some manufacturers quote 975 yuan / nickel point (including factory tax). Traders said that at present, the operating profit space of high nickel iron is very narrow, the quotations of iron mills are strong, the concessions of steel mills are limited, the supply of goods at low prices is difficult to buy, and it is difficult to sell at high prices. But the rising trend appears, the price of high nickel pig iron may continue to rise slightly by 5mur10 yuan / nickel point.

On July 15, the nickel sulfate factory has a strong intention to push forward the price this week. On the one hand, because the nickel price continues to rise in the first half of July, the cost of nickel sulfate rises with the nickel price and has limited room to fall in the short term; on the other hand, nickel sulfate has gone to the warehouse for two consecutive months and is expected to continue to go to the warehouse in July. The inventory of most nickel sulfate plants is small or has bottomed out this week, and there is a strong support for the price of nickel sulfate. Today, the mainstream price of battery-grade nickel sulfate is 24000 yuan / ton, and the market transaction price is 2.35-24000 yuan / ton (crystal / including the acceptance price for a one-month account period); electroplating grade nickel sulfate is quoted at 29500 million yuan / ton.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, Wuxi stainless steel cold rolling prices are generally flat, the coiling price range is 13550, 13750 yuan / ton, 304 hot rolling, some traders high price callback, today quoted 13000 million 13100 yuan / ton, the average price is slightly reduced by 50 yuan / ton, the normal price adjustment range. The performance of the stainless steel market is general, the market trading is light, the price is mainly flat, and some merchants adjust the price slightly according to their own inventory and shipping willingness due to the reduction of futures prices. Today, the stainless steel futures contract is still at a slight discount to the spot price, SHFE10 point 30 SS2009 contract price 13440 yuan / ton, Wuxi stainless steel spot price 280mur480 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] the overall price of 300 series cold and hot rolling is stable today, and the short-term shortage of the market has obviously improved compared with the previous period. In addition, the current Qingshan 200 series stock price has been raised by 100, and the transaction of 201 cold rolling in the South China market is mediocre. Most traders said that steel prices of all series were mainly temporarily stable under the off-season of consumption. Foshan area steel quotation, the state-owned 304Universe 2B trimming crimping 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 13,500 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 13440 yuan / ton, Foshan stainless steel spot water 230 Mel 430 yuan / ton. (spot trimming = rough edge + 170).

July 16, the current outer disk or port spot market transactions are deserted, most factories are still consuming their own inventory, procurement is not active. The downstream ferrochrome retail is not good, the factory inventory consumption is mainly, and the demand for port chrome ore is low. At present, many traders are actively shipping goods, and the market quotation is gradually on the low side, and the downward trend of chromium ore shock in the short term is the main trend; at present, it is not favorable to stimulate the market, but the resumption of production of large ferrochrome enterprises in South Africa is still not smooth, and the monthly output is only 3% higher than that before the epidemic, and the port inventory consumption is extremely high, so whether the import of ferrochromium from South Africa is greatly reduced in the future needs continuous attention.

[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.

Nickel
nickel sulfate
price
mining

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