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[SMM Nickel spot afternoon Review] Nickel spot discount is OK to increase trading in the morning market.
Jul 20,2020 11:54CST
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Source:SMM
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SMM, July 20:

Today, SMM1 Electrolytic Nickel is quoted at 103400 RMB104600 per ton. The spot market is still quoted for 08 contracts, and in the morning market, Shanghai Nickel recorded a "V" trend, then rebounded, and the downstream entered the market for active enquiries, and the transaction was OK. Russo Nickel to Shanghai Nickel 2008 contract is quoted at 500 to 400 yuan / ton, the trading volume is not as good as Jinchuan Nickel for the time being. Jinchuan Nickel to Shanghai Nickel 2008 contract rose 400 won 500 yuan / ton in the morning market. It is reported that the price of 500 yuan / ton is difficult to ship. As Jinchuan company quoted an ex-factory price of 105000 yuan / ton and shipped in Shanghai, the supply of goods at low prices in the market gradually flowed out, and the transaction gradually improved. Nickel beans in the morning market quotation of 1300 million 1200 yuan / ton, due to the reduction of nickel bean inventory, the discount range has narrowed.

 

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