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[SMM Nickel spot afternoon Review] Shanghai Nickel returns to 110000 spot trading suppressed traders turn to 09 contract quotations
Jul 27,2020 12:09CST
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SMM7 March 27:

Today's SMM1 Electrolytic Nickel reported 109400-110300 yuan / ton. Last Friday, Shanghai Nickel rose sharply, and today's Nickel Futures continued to rise, gradually standing above the 110000 mark. Today, spot traders have turned to Shanghai Nickel 2009 contract quotations, but the market quotes are more and less, and the transaction situation is light. Russo Nickel to Shanghai Nickel 2009 contract quoted between 300 yuan / ton to 400 yuan / ton, the holder is hesitant to sell, the supply of goods in circulation is tight, and there is almost no purchase downstream, so the transaction is mostly the circulation and replenishment between traders. The Jinchuan Nickel 2009 contract against Shanghai Nickel rose 300 yuan / ton to 400 yuan / ton, and the transaction was also poor. Jinchuan Company's ex-factory price was quoted at 110300 yuan / ton in Shanghai and 109850 yuan / ton in Gansu. Traders continue to wait and see, and the delivery of goods is limited. Nickel beans due to tight inventory, only a small number of holders quote, the Shanghai Nickel 2009 contract is about 1100-1000 yuan / ton.

 

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