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[today's Nickel Market] Shanghai Nickel Morning Market rushes high and falls back downstream and wait-and-see trading has not yet warmed up.
Jul 28,2020 13:59CST
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: on July 28, SMM1 Electrolytic Nickel reported 110200-111200 yuan / ton. Shanghai Nickel rose and fell back this morning and fell below the 110000 mark at the end of the morning. The spot market demand has not yet warmed up, and downstream users still hold a wait-and-see attitude. It is reported that there are few transactions. Liter discount has not changed much compared with yesterday, Russo Nickel to Shanghai Nickel 2009 contract to paste 400 to 300 yuan / ton. The Jinchuan Nickel 2009 contract against Shanghai Nickel rose 200 to 300 yuan / ton, and Jinchuan's ex-factory price was 110300 yuan / ton, but the trading price fell continuously and the willingness to accept goods in trade was limited. Nickel beans to Shanghai Nickel 2009 contract quoted price of 1100-1000 yuan / ton.

[ex-factory price of Jinchuan Company] on July 28th, Jinchuan Electrolytic Nickel (large Board) was quoted at 110300 yuan / ton in Shanghai and 109850 yuan / ton in Jinchang, which was the same as yesterday.

On July 27, a stainless steel factory in East China purchased high nickel pig iron at a price of 990 yuan / nickel point (including factory tax), with a turnover of thousands of tons, 10 yuan / nickel point higher than its purchase price in late June.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] the spot price range of stainless steel cold rolling coil in Wuxi is 13650-13850 yuan / ton, the average price is 50 yuan / ton higher than yesterday, and the hot rolling price is 13100-13200 yuan / ton, which is the same as yesterday's price. According to traders, the current cold rolling transaction situation is relatively good, and the cold rolling supply has been in a tight state, the price is firm, cold rolling spot 1.85mm and other specifications are still out of stock. Today, nickel futures and other non-ferrous metals have varying degrees of price correction, stainless steel futures contract high decline, compared with the spot is still in a state of discount. SHFE10 point 30 SS2009 contract price 13770 yuan / ton, Wuxi stainless steel spot water 50-250 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

[Foshan stainless steel afternoon review] the average price of 300 series cold and hot rolling in Foshan on Tuesday was slightly higher than that of yesterday as a whole. At the end of the month, most merchants reflected a stronger market adjustment atmosphere, but some traders still shipped at a stable price than last week. Among them, the August order transaction performance of steel prices is on the low side, and it is expected that the overall steel prices of each series will continue to operate in a stable trend in August. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than the average price on Monday remained stable at 14300-14500 yuan / ton, private 304Universe 2B rough edge roll than yesterday's average price slightly rose 50 yuan / ton in 13600-13800 yuan / ton, 304 / NO. 1 five-foot quotation rose 50 yuan / ton in 13100-13300 yuan / ton, to 10:30 SHFE SS2009 contract selling price 13770 yuan / ton, Foshan stainless steel spot water 0200 yuan / ton. (spot trimming = rough edge + 170).

On July 27th, according to the market news, TISCO plans to start overhauling the 2250mm hot rolling line in August, with an overall overhaul time of about 15 days, which will affect the output of 300 series wide stainless steel. According to SMM research, steel mills said that the output of stainless steel crude steel has not been reported yet. At the same time, one of its blast furnaces will be overhauled at the same time. The total output of hot metal in the blast furnace will be affected by 100000 tons, and the affected 400 series steelmaking will be about 20-30 thousand tons.

[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.

Stainless steel
production capacity

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