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[today's nickel market] low-price supply reduction nickel spot discount slightly upward revision
Jul 17,2020 15:49CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 17: today SMM1 Electrolytic Nickel quotation 106000mil 107,000 yuan / ton, the average price is 50 yuan / ton lower than yesterday. After yesterday's nickel price fell, today's futures continued to fluctuate in a narrow range near yesterday's position, and the price in the mainstream trading session changed little compared with the same period yesterday. The recent nickel market is strong, and yesterday there was a certain replenishment demand for nickel prices, which consumed part of the supply of low-priced goods on the floor, so today's spot discount has been slightly revised upwards in Jinchuan and Russo nickel. Russo Nickel 2008 contract with Shanghai Nickel rose from 550yuan to 450yuan / ton to 400yuan / ton, while Jinchuan Nickel 2008 contract to Shanghai Nickel 2008 contract rose 300yuan / ton to 400yuan / ton, but after a certain release of demand yesterday, the purchasing atmosphere in the market has weakened today and trading volume is limited. The ex-factory price of Jinchuan Company in Shanghai is 106700 yuan / ton, which is the same as that of yesterday. The contract of Nickel Bean to Shanghai Nickel 2008 is still quoted at 1500 yuan / ton.

[ex-factory price of Jinchuan Company] on July 17th, Jinchuan Electrolytic Nickel (large Board) was quoted at 106700 yuan / ton in Shanghai and 106250 yuan / ton in Jinchang, which was the same as yesterday.

On July 16th, the ex-factory price of SMM high-nickel pig iron was 960 RMB965 per nickel spot (including factory tax), which was the same as the average price of the previous trading day. At present, stainless steel factories with sufficient inventory have a weak purchasing mentality and low acceptance for the rise in the price of high nickel pig iron. The willingness of the ironworks to raise the price has not been loosened for the time being, there is a stalemate between the two sides, and there is no inquiry from mainstream steel mills In addition, some iron factories have long Association orders and pre-bulk orders to be delivered, and the stock of raw materials is tight, the existing raw material prices are high, and there is no rush to ship. Buyers and sellers are in the stage of price game, but at present, the buyer is still strong.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, the spot price of stainless steel in Wuxi area is mainly flat, and the cold rolling quotation has been slightly reduced by 50 yuan / ton by individual traders. The coiling price range is 13500 won 13700 yuan / ton, and 304 hot rolling price 13000mur13100 yuan / ton, which is the same as yesterday's offer. The spot market of stainless steel continues the state of low supply and weak transaction, and the price is running steadily this week. According to traders, at present, the supply of cold-rolled sheet below 1.0mm is tight, the quotation is higher than the average level of the market, the hot rolling is in normal condition, and the overall transaction in the market is weak. Today, SHFE10 point 30 SS2009 contract price is 13465 yuan / ton, Wuxi stainless steel spot water 205mi 405 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] all series of steel in Foshan area maintained stable shipments on Friday. Recently, according to some traders, the number of cold rolling transactions in the market has increased compared with the previous period, individual merchants have received the order for September, and in the later period, with the increase in the demand for steel construction in the society, it is good for the future. SMM expects short-term steel prices to operate steadily supported by demand. 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 13500 NO. 13700 yuan / ton, 304 / NO. 1 five-foot quotation is unchanged at 12950MIT 13150 yuan / ton, to 10:30 SHFE SS2009 contract selling price 13465 yuan / ton, Foshan stainless steel spot water 205 Mel 405 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.

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