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[SMM Nickel spot afternoon Review] Nickel pullback attracts downstream enquiries about the narrowing of Russo Nickel discount and the transaction is still better than Jinchuan Nickel.
Jul 23,2020 12:14CST
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Source:SMM
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SMM, July 23:

Today, SMM1 Electrolytic Nickel is quoted at 104500 RMB105600 per ton. The spot is still quoted for the 08 contract, due to the narrowing of the monthly spread and the replacement of the hedging plate may be postponed to next week, today's nickel price center of gravity hovers at 105000 yuan / ton, nickel prices fall back to stimulate downstream inquiry procurement, the market trading atmosphere has warmed up. Today, there are more traders collecting Russian nickel in the market, and some holders are also reluctant to wait and see, so the Russian nickel discount has narrowed to-400 yuan / ton to-300 yuan / ton. Downstream to pick up the goods, traders actively move goods, the morning market deal is OK. Jinchuan nickel liter water concentrated in the rise of about 500 yuan / ton, the supply of low-cost goods is less. The ex-factory price of Jinchuan Company is 105500 yuan / ton, which is not much different from the market price, and there is only a small amount of goods in Shanghai. At present, the turnover of Jinchuan nickel is not as good as that of Russo nickel. Russo Nickel today quoted a discount of about 1200 RMB1100 per ton.

 

 

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