Nickel price judgment: the recent market is greatly affected by the capital side. Shanghai Nickel has experienced a continuous decline but maintained a certain previous increase and then rearranged. Overnight, Shanghai Nickel closed in the positive column, K-column broke through the 10 / 20 moving average and Boll Line midrail pressure, the top is faced with 107800 yuan / ton pressure, today pay attention to the consolidation of Shanghai Nickel at this level. It is estimated that during the week, Shanghai nickel 105000 won 109,000 yuan / ton, Lunni 13150ml 13700 US dollars / ton.
1. July 21th SMM1 Electrolytic Nickel quotation 104700 RMB105700 per 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.
2. On July 21, the ex-factory price of high-nickel pig iron is 960mur970 yuan / nickel point (including factory tax), which is 5 yuan / nickel point higher than that of the previous trading day. The price offered by high-nickel pig iron holders is still relatively strong, and the purchase price of downstream high-nickel pig iron is 980 yuan / nickel point (including factory tax) gradually accepted. In the afternoon, an inquiry for high nickel pig iron 975 yuan / nickel point (including tax to the factory) in a stainless steel factory in East China decreased somewhat compared with the previous period, mainly because most of the steel mills were purchased by the long Association coefficient in the early stage, and the transaction price rose as the nickel price rose, which was higher than the market price. The long Association gave profits to the consignors, so the purchase price of bulk orders decreased slightly compared with the mainstream transaction price of 980 yuan / nickel point (including tax to the factory). The price of high nickel pig iron runs stably in this position.
3, July 21 stainless steel market performance today is general, the price is flat mainly, 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)
![[SMM Analysis] Influenced by macro sentiment, MHP and high-grade nickel matte prices declined this week.](https://imgqn.smm.cn/usercenter/CWsEw20251217171732.jpeg)