[today's Nickel Market] Shanghai Nickel returns to 110000 spot trading of suppressed stainless steel spot prices are both hot and cold rolled.

Published: Jul 27, 2020 13:25

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 27th, SMM1 electrolytic nickel reported 109400-110300 yuan / ton, last Friday Shanghai nickel rose sharply, today's nickel 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.

[ex-factory price of Jinchuan Company] SMM July 27: Jinchuan Electrolytic Nickel (big board) quoted price of 110300 yuan / ton in Shanghai and 109850 yuan / ton in Jinchang, an increase of 1500 yuan / ton compared with last Friday.

[SMM data] June 2020 Nickel Wet smelting Intermediate products Import-by country "View details

[June 2020 Nickel Wet smelting Intermediate Product Import data-Sub-Trade Mode] SMM7 on June 26th, according to customs itemized data, June 2020 Nickel Wet smelting Intermediate Product Import data sub-trade mode is the general trade volume 26742871kg.

[June 2020 Nickel Wet smelting Intermediate Product Import data-country] SMM7 26, according to customs data, June 2020 nickel wet smelting intermediate product import data are Turkey 2117113kg, Morocco 320000kg, Spain 197801kg, New Caledonia 1216922kg, Papua New Guinea 22891035kg.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] on July 27th, due to the stimulation of the sharp rise in nickel price and stainless steel futures contract price, the spot price of stainless steel in Wuxi area was both cold and hot rolled. The range of cold rolling coiling price was 13600-13800 yuan / ton, the average price was 50 yuan / ton, the hot rolling price was 13100-13200 yuan / ton, and the average price was 50 yuan / ton. According to traders, the price of 304 stainless steel cold rolling is generally raised today, on the one hand, due to the stimulation of rising prices, on the other hand, replenishment is carried out today after two days of the weekend, the transaction is better, and the price is stronger. However, the trading performance of hot rolling is weak, and the price increase is mainly due to the promotion of nickel prices in stainless steel futures prices. Today, the stainless steel futures contract opened stronger, breaking through the 13900 yuan / ton line, which is higher than the spot price. Today, SHFE10 point 30 SS2009 contract price 13880 yuan / ton, Wuxi stainless steel spot water-110-90 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] on July 27, the overall price of 300 series cold and hot rolled steel in South China increased significantly by 50-100 yuan / ton at the beginning of the week compared with last week. Last week, many traders and agents said that the market order quantity was average, and the terminal procurement demand performed well in July. Although there are individual specifications in the market out of stock, the delivery volume at the end of the month can still deliver August orders, and the overall steel prices in Foshan remain stable in the short term. In terms of quotations for steel products of various departments in Foshan area, the price of state-owned 304 NO. 2B trimming coil is 100 yuan / ton higher than last Friday's average price at 14300-14500 yuan / ton, private 304 hand 2B rough edge roll is up 50 yuan / ton from last Friday average price at 13550-13750 yuan / ton, 304 / NO. 1 five-foot quotation is 50 yuan / ton higher than last Friday average price at 13050-13250 yuan / ton, and the selling price for 10:30 SHFE SS2009 contract is 13880 yuan / ton. Foshan stainless steel spot water-110-10 yuan / ton. (spot trimming = rough edge + 170).

[SMM steel mill guidance price] the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. dropped 50 yuan / ton on July 27th compared with July 25th. "check the details.

[SMM six social stocks of pure nickel decreased by 303 tons compared with last Friday]

According to SMM, as of Friday, SMM's total pure nickel inventory was 47046 tons, down 303 tons from last Friday. This week, the overall inventory of the six places in the country offset each other, of which the spot transaction in Shanghai at the beginning of the week is OK, and there is a certain exit from the downstream after bargain purchasing; the storage comes from nearly a thousand tons of Russian nickel arriving in Hong Kong, which will still be used for warehouse receipt delivery, and it is reported that it has been put into storage today. There has been a small increase in warehouses in Tianjin and the replenishment of Jinchuan nickel by traders. Inventory in Liaoning area decreased slightly, mostly Russian nickel out of the warehouse, local Bofeng nickel plate inventory remained unchanged; Jiangsu and Zhejiang inventory is still flat than in the previous period. Overall, the inventory of the three places in East and South China decreased by 303 tons, while the inventory of the six places across the country decreased by 467 tons.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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[today's Nickel Market] Shanghai Nickel returns to 110000 spot trading of suppressed stainless steel spot prices are both hot and cold rolled. - Shanghai Metals Market (SMM)