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[SMM Weekly selection] the price of high nickel pig iron continues to rise, and the game atmosphere is still strong.
Sep 5,2020 13:32CST
translation
Source:SMM
[SMM Weekly report selection: high nickel pig iron prices continue to rise in the game atmosphere is still strong] Nickel and various metals prices a sharp correction, dominated by the collapse of US stocks, the appreciation of the dollar and other macro factors, there is an appropriate recovery adjustment range in the short term; nickel fundamentals are temporarily stable, but stainless steel prices have a high peak trend, nickel prices will continue to upward pressure will increase, but at the same time the callback space is also limited; At present, the fundamentals of nickel are good in the short term and better than expected in the long run.
The content below was translated by Tencent automatically for reference.

"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:

 

The sharp correction in the prices of nickel and various metals is dominated by macro factors such as the collapse of US stocks and the appreciation of the US dollar, and there is a range of appropriate recovery and adjustment in the short term; the performance of nickel fundamentals is temporarily stable, but stainless steel prices tend to peak at a high level. the upward pressure on nickel prices will increase, but at the same time, the space for pullback is also limited; at present, the short-term fundamentals of nickel are good, and in the long run, they are better than expected. In the third quarter, 300 series stainless steel high output assist high nickel pig iron from leftover to deficient, fourth quarter or tight balance, the surplus is less than originally expected, so some nickel market fundamentals of nickel pig iron are good; in terms of pure nickel, although consumption is not good, however, the reduction of domestic nickel spot imports has a certain adjustment to the market, so that the domestic social inventory is basically balanced, and the market performance is relatively stable.

 

 

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

Main points of this issue's weekly report

 

Nickel ore / nickel pig iron: the price of high nickel pig iron continues to rise, but the game atmosphere is still strong.

Stainless steel: stainless steel inventory shows a small cumulative upward trend under pressure

High-carbon ferrochromium: steel measures failed to rise as scheduled in September, the high-carbon ferrochromium plant may be forced to reduce production due to losses

Nickel downstream: August PMI out of the furnace comprehensive new order index significantly increased stainless steel factory orders in good condition

The resource tax law, which came into effect on September 1, has little impact on costs, but it will make it easier for mining enterprises to declare.

 

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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.

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