[SMM Weekly report selected] Nickel pig iron short-term market price may maintain stable operation downstream demand as the main influencing factor

"SMM Nickel Industry chain Weekly report" is released. SMM will select hot topics, prices, quotations or major changes in the industry chain and release information for your reference.

The following is an excerpt from the weekly report of the SMM nickel industry chain:

Fundamental contradictions are not prominent this week, all kinds of news broke out multi-short intertwined nickel prices continued high shock. The demand for pure nickel is not good, but there is less import supply this week. During the period of high nickel price correction, there is still purchasing action downstream of rigid demand, and the overall performance is OK; nickel pig iron and stainless steel are also stable, and nickel pig iron is in a state of balance between supply and demand in the short term. Stainless steel market shipments in the near future, the fundamental contradiction is not prominent; The tension between China and the United States has intensified, the stock market and most commodities driven by bearish funds, the strength of safe-haven precious metals, and the general performance of overseas macro data; domestic policies to stimulate domestic demand, such as the transformation of old residential areas, and so on; Musk's speech advised nickel mines to increase production to provide material for emotional speculation.

After the nickel price was pushed to a high level, the fundamentals have no clear guidance and the news is multi-short and complex, and the short-term trend is highly uncertain. at present, although many operators expect to have a short-term mentality according to the fundamentals, the short-term funds are also mainly short-term operations. it is expected that nickel prices will continue to fluctuate widely, with Shanghai nickel 105000-110000 yuan / ton and Lunni 13000-13700 US dollars / ton.

At present, the main factor affecting the price of high-nickel pig iron is the demand for stainless steel, and the price of raw materials only provides some support for the price decline of high-nickel pig iron. The recent rise in stainless steel prices is difficult, profit margins are limited, but mineral prices are high, so it is difficult for high-nickel pig iron prices to rise and fall. It is expected that the operating range of nickel pig iron price will be expanded to 955-970 yuan per nickel point (including factory tax) next week.

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Catalogue of "SMM Nickel Industry chain Weekly report" in this issue

Main points of this issue's weekly report

Nickel pig iron: the short-term market price of nickel pig iron may be the main influencing factor of stable operation of downstream demand.

Stainless steel: the futures contract is strong and the spot market is stimulated to increase slightly. The transaction performance of the spot market is mediocre.

Electrolytic nickel: nickel high shock downstream wait-and-see only traders transfer downstream demand is weak

Nickel sulfate: the price of nickel sulfate remains stable this week and the purchasing node will reach the expected slight increase in the price of nickel sulfate.

High-carbon ferrochromium: the market of chromium ore is weak, the price of high-carbon ferrochromium is stable, and the steel is willing to stabilize the price in the neighboring iron mills.

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[China Nickel Industry chain High-end report] China Nickel Industry chain monthly report includes macro interpretation, monthly review of nickel price, interpretation of hot events and future forecasts in various sections of the nickel industry chain (nickel ore, electrolytic nickel, nickel pig iron, stainless steel, ferrochromium). And release monthly relevant enterprise operating rate and inventory survey and other data, covering the entire nickel industry chain.

[China Nickel Industry chain routine report] China Nickel Industry chain Weekly report includes macro interpretation, weekly review of nickel price, market trends of various sections of nickel industry chain (electrolytic nickel, nickel pig iron, stainless steel, ferrochromium), weekly social inventory, future forecast, comprehensive interpretation of the nickel market in the week.