[today's Nickel Market] High volatility spot demand in Shanghai Nickel Morning Market is difficult to continue * Tesla starts negotiations on buying low-carbon nickel from Canada

Nickel spot

Nickel spot: today's futures nickel continues to fluctuate around 119000 yuan / ton, the nickel market continues to strengthen, but the spot downstream demand is difficult to sustain, the morning nickel spot report is more than less, and the trading volume is not as good as yesterday. In terms of quotation, some holders have quoted prices for Shanghai Nickel 11 contracts, but the main prices are still quoted for 10 contracts. Russo Nickel to Shanghai Nickel 10 contracts are quoted at 300 to 250 yuan / ton, and 11 contracts are quoted at about 500 yuan / ton. Jinchuan Nickel rose about 1600-1800 yuan / ton for Shanghai Nickel 10 contract and about 1500 yuan / ton for Shanghai Nickel 11 contract. Because the actual price has exceeded 120000 after Jinchuan rising water, it makes users hold a wait-and-see attitude for the time being, so the market performance is both weak in supply and demand. The ex-factory price of Jinchuan is quoted at 120300 yuan / ton, and the manufacturer continues to ship a moderate amount of goods in Gansu. Nickel beans quoted 600 to 400 yuan per ton for Shanghai Nickel 10 contract, and the deal was also poor.

Market analysis

[SMM brief comment: Qingtuo Special Steel Wire Bar Project will be put into production in September next year to expand stainless steel industry chain] recently, the Fujian Provincial Development and Reform Commission issued the Fujian Development and Reform Commission's opinions on the energy conservation review of the stainless steel rod and wire processing project supporting Qingtuo Nickel Industry of Fujian Qingtuo Special Steel Co., Ltd., it is reported that on July 9, Fu'an City held a signing ceremony for attracting investment projects for the second quarter of 2020, with a total of 14 projects signed. The total investment is 6.135 billion yuan. Among them, there are 5 industrial projects, including the stainless steel rod and wire processing project of Fujian Qingtuo Special Steel Qingtuo Nickel Co., Ltd. According to SMM, this project is mainly the processing project of stainless steel cold rolling line bar. At present, the stainless steel coil market of various steel mills has become more mature and stable. In order to expand the stainless steel industry chain, it began to lay out the wire bar and pipe profile market gradually, and gradually increased the wire bar and pipe profile market. On the other hand, Qingshan Group and Jiangsu Delong have set up stainless steel production lines in Indonesia, and the monthly billet import has a certain advantage for the production of stainless steel wire bars.

[SMM brief Review] Qingtuo Special Steel Line Bar Project will be put into production in September next year to expand the stainless steel industry chain.

Important news

[Tesla talks to buy low-carbon nickel from Canada] Tesla (Tesla) is in talks with Giga Metals, a Canadian mining company, to help develop a large mine that will give the electric carmaker access to a low-carbon nickel mine used to produce batteries, according to three people familiar with the matter. In addition to reducing pollution caused by driving, Tesla also strives to reduce his carbon footprint. Elon Musk, chief executive of Tesla, said in July: "if you can mine nickel efficiently in an environmentally sensitive way, Tesla will give you a huge long-term contract." Giga Metals's low-carbon nickel mine plan includes converting waste from its mining operations into cement rocks, using carbon dioxide in the atmosphere, and using hydroelectric power.

Tesla starts negotiations on buying low-carbon nickel from Canada

[Ifishdeco: plans to sell 800000 tons of nickel mines by the end of this year] recently, PT Ifishdeco Tbk said that in order to achieve good results by the end of this year, the company aims to sell 800000 tons of nickel mines. Recently, PT Ifishdeco Tbk said that in order to achieve good results by the end of this year, the company aims to sell 800000 tons of nickel ore. Company secretary Crystal Pranoto (Christo Pranoto) said that until the first half of 2020, due to various obstacles, from the IFCo nickel export ban to the Covid-19 pandemic to the extended rainy season, sales of the IFSH nickel mine reached only 210548 tons. Christo said that IFSH has a sales target of 800000 tons for the nickel mine and forecasts net sales of 399 billion rupiah this year based on the existing mineral reference price (HPM). IFSH is also expected to make a net profit of 32 billion rupiah. These figures are forecasts of non-consolidated financial performance.

"Ifishdeco: plans to sell 800000 tons of nickel mines by the end of this year.

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