Home / Metal News / [today's nickel market] Nickel shock occurred near the 20-day moving average. Downstream demand turned weak and the flow among traders was OK.

[today's nickel market] Nickel shock occurred near the 20-day moving average. Downstream demand turned weak and the flow among traders was OK.

iconJul 21, 2020 14:29
Source:SMM

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 21: today SMM1 Electrolytic Nickel quotation 104700 Mel 105700 yuan / ton. In the spot market, most traders quoted prices for 08 contracts, while individual traders quoted prices for 09 contracts in another month. After the release of downstream demand yesterday, the willingness to purchase has weakened today, and the circulation atmosphere of inquiry among traders is OK today. Russo Nickel to Shanghai Nickel 2008 contract quoted 450 yuan / ton to 350 yuan / ton, Russian nickel discount is the main reason, the volume of shipments of traders yesterday, after the reduction of inventory, the holder is reluctant to sell. Jinchuan Nickel 2008 contract against Shanghai Nickel rose 400,000,000 yuan / ton, and there were also a small number of transactions in the morning. Jinchuan Company quoted the ex-factory price in Shanghai at 106000 yuan / ton, which is 500 RMB600 / ton higher than the market price, so the willingness of traders to accept the goods is restrained. Nickel beans were quoted at 1300 to 1200 yuan per ton in the morning, which was the same as yesterday.

[ex-factory price of Jinchuan Company] on July 21, Jinchuan Electrolytic Nickel (big board) was quoted at 106000 yuan / ton in Shanghai and 105550 yuan / ton in Jinchang, an increase of 1000 yuan / ton compared with yesterday.

On July 21, Shanghai Nickel received negative results for several days and is expected to fluctuate in the range of 105000 RMB107,000 per ton this week. Although the price of nickel has been revised back compared with last week, battery-grade nickel sulfate is supported by the bottoming out of inventory, but the low transaction price remains at 23500 yuan / ton and does not fall with the nickel price. This week, the nickel sulfate factory is more willing to push up the price. At present, there are few nickel sulfate manufacturers with the intention of shipping and receiving orders. the mainstream quotation of battery-grade nickel sulfate is 24000 / ton, and the actual market transaction price is 23500 Mel 23800 yuan / ton.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today's stainless steel market performance is general, the price is mainly flat, yesterday the deal is OK, two days after the weekend, some replenishment, pick up the goods. According to traders' response, rainy days will have some impact on stainless steel transportation, spots will be formed on the surface drenched by rain, and delivery of goods with higher requirements on the surface will be restricted. The price range of cold rolling price is 13500 Mel 13700 yuan / ton, and 304 hot rolling price 13000Mel 13100 yuan / ton, which is the same as yesterday's market average price. Today, SHFE10 point 30 SS2009 contract price 13480 yuan / ton, Wuxi stainless steel spot water 190mur390 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] Today, the overall trading atmosphere of steel in Foshan is calm, the wait-and-see mood increases, and there is more room for bargaining at the downstream terminal, but the individual specifications of the actual transaction preference remain high. in addition, there are new sources of hot rolling in the market, and it is expected that the steel prices of each series will be stable and adjusted mainly in the short term. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price slightly lower than yesterday's average price of 50 yuan / ton at 14,200won 14400 yuan / ton, private 304Universe 2B rough edge curl than yesterday's average price stable at 13450 NO. 13650 yuan / ton, 304 / NO. 1 five-foot quotation was unchanged at 12950ly13150 yuan / ton, to 10:30 SHFE SS2009 contract selling price 13480 yuan / ton, Foshan stainless steel spot rising water 140340 yuan / ton. (spot trimming = rough edge + 170).

[SMM Steel Plant guidance Price] on July 21, the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. is the same as yesterday. "check the details.

[SMM pure nickel domestic stock increased by 2555 tons to 45335 tons compared with last Friday]

According to SMM, as of Friday, the social inventory of), SMM pure nickel was about 45300 tons, an increase of 2555 tons from last Friday. This week, the inventory of the previous period increased by 2348 tons to 31843 tons, with some new imports and spot warehouse sources to be shipped to the delivery depot, and warehouse receipts will be made one after another. Hidden inventory in East China increased by 197t to 13005 t. This week, some electrolytic nickel was stored at Gansu smelter and Jilin smelter in Shanghai, so this week's hidden inventory in East China increased by 197t compared with last week. Guangdong Southern Reserve inventory increased to 290 tons. To sum up, pure nickel weakened this week, superimposed imports and domestic nickel plate arrival, domestic social inventory increased by 5.97%, the third consecutive week of base warehouse.

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