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[today's Nickel Market] Nickel continues to fluctuate at a high level. Downstream, many wait-and-see spot trading is still not good.
Jul 29,2020 13:58CST
The content below was translated by Tencent automatically for reference.

Nickel ore, nickel pig iron, nickel sulfate

Nickel spot: July 29th: today SMM1 Electrolytic Nickel reported 109300-110200 yuan / ton, nickel morning market consolidation around 110000, downstream demand continued to be depressed, traders reported that the transaction situation was not good. The discount was stable compared with yesterday. Russo Nickel 2009 contract with Shanghai Nickel was quoted at 300 yuan / ton, and the market quotation was more uniform, and there was almost no cheaper Russo Nickel on the market. Jinchuan Nickel 2009 contract against Shanghai Nickel 2009 contract rose 300 yuan / ton, and the transaction was also poor in the morning. Jinchuan Company's ex-factory price in Shanghai was 110300 yuan / ton, unchanged for the third trading day in a row. Manufacturers have a short opportunity to receive goods after quotation, and some traders take goods, but it is expected to have little impact on the market price. It is expected that the spot discount will remain stable in the future, waiting for the nickel price correction or rigid demand customers to enter the market to pick up the goods.

[ex-factory price of Jinchuan Company] on July 29th, Jinchuan Electrolytic Nickel (large Board) was quoted at 110300 yuan / ton in Shanghai and 109850 yuan / ton in Jinchang, unchanged for the third trading day in a row.

On July 28th, the ex-factory price of today's SMM high-nickel pig iron is 960,970 yuan / nickel point (including factory tax), up 2.50 yuan / nickel point compared with the previous trading day. The price mentality of the consignor is enhanced, most of which are located at 990-1000 yuan / nickel point (including tax to the factory). Downstream acceptance is still limited, in addition to some steel mills rigid demand procurement, price concessions are difficult. It is expected that in the short term, driven by the rise in the price of pure nickel, Ferro-nickel still has a little room to rise, but the price of 1000 yuan / nickel point (including tax to the factory) is still difficult to achieve.

Stainless steel, ferrochromium

[Wuxi stainless steel afternoon review] Today, Wuxi stainless steel spot 304 cold rolling generally reported flat status, coiling price range of 13650-13850 yuan / ton, while 304 hot rolling slightly increased 50 yuan / ton to 13150-13250 yuan / ton. At present, Qingshan Steel Plant has not yet issued a new trading price, and no new futures price has been released for 3 weeks as of this week. Today, the spot transaction performance of stainless steel is general, and some of the cold-rolled specifications in the market are still in a state of tight supply. The goods merchants with more complete specifications have a slightly better transaction, but the out-of-stock merchants have a poor deal. According to the understanding of the market operators, near the end of the month, some steel mills should arrive at the end of the month to replenish the supply of goods. For SHFE10 point 30 SS2009 contract price is 13785 yuan / ton, Wuxi stainless steel spot water is 35-235 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)

Foshan stainless steel afternoon review] Today, Foshan 300 series hot rolled steel is supported by market demand to rise slightly 50 yuan / ton, other departments of cold and hot rolled steel as a whole to maintain stable operation, but the terminal market is mainly rigid demand procurement, steel prices rise is limited in the short term, most steel mills are more flat performance, so SMM expects the late each series steel prices to continue the stable trend of operation. Foshan area steel quotation, the state-owned 304Universe 2B trimming curling price than yesterday's average price maintained stable at 14300-14500 yuan / ton, private 304Universe 2B rough edge roll than yesterday's average price maintained stable at 13600-13800 yuan / ton, 304 / NO. 1 five-foot quotation than yesterday's average price again slightly rose 50 yuan / ton in 13150-13350 yuan / ton, to 10:30 SHFE SS2009 contract selling price 13785 yuan / ton, Foshan stainless steel spot discount 15-litre 185yuan / ton. (spot trimming = rough edge + 170).

SMM7 March 28, today's high-carbon ferrochrome prices maintain stable operation, Inner Mongolia quoted 5700-5900 yuan / 50 base tons, northwest region quoted 5800-5900 yuan / 50 base tons, Sichuan quoted 6000-6100 yuan / 50 base tons; upstream chromium ore, mainstream chromium ore quotations and actual transactions have been slightly reduced, South Africa 40-42% chromium concentrate spot price 26-28 yuan / tonnage, outer plate 130,135USD / ton; 38-40% of the original ore is quoted at 28-29 yuan / tonnage, and the outer price is 140-145 US dollars / ton.

[SMM steel mill guidance price] on July 28th, the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. is the same as yesterday. "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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