Nickel market (7.24) nickel price continues to naturally reverse stainless steel atmosphere malaise

[price of SMM nickel products on 24 July]

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[July 24 SMM nickel market trends]

Electrolytic nickel

Spot: Russian nickel than Shanghai nickel 1908 discount 300-paste 200 yuan / ton, basically the same as yesterday. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1500 to 1700 yuan / ton, which continues to expand from yesterday. However, in the past two days, the transaction of discount 350-discount 300 is relatively active. In early trading, the nickel price fluctuated around 111700 above the daily average, although it fell in the same trading session yesterday, but there was no response downstream today, and the transaction was not as positive as yesterday. Nickel prices fell to around 111200 in the second trading session, with a slight improvement in trading, but the overall picture was not optimistic. Recently, traders replenish Jinchuan nickel relatively downstream, the downstream is basically wait-and-see. The ex-factory price of Jinchuan Company was quoted at 112300, down 2200 yuan / ton from yesterday. After Jinchuan ex-factory price, traders slightly reduced Jinchuan Shengshui, but the stimulation to the market was limited, and the mainstream transaction was 111000-112800 yuan / ton.

[Jinchuan company ex-factory price] Jinchuan company electrolytic nickel (big plate) Shanghai quotation 112300 yuan / ton, barreled small pieces 113500 yuan / ton, down 2200 yuan / ton compared with yesterday.

Nickel pig iron, nickel ore

[customs data: China's nickel imports fell 18.4 per cent month-on-month in June] Customs data show that China imported 4.165 million tons of nickel mines in June, down 18.4 per cent from the previous month and 0.5 per cent from the same period last year. In terms of varieties, China's imports of laterite nickel ore in June were 4.116 million tons, down 18.6 percent from the previous month and 0.5 percent from the same period last year. Of this total, nickel mines from the Philippines decreased by 12 per cent to 2.97 million tons, down 0.02 per cent from the same period last year, and imports from Indonesia totaled 1.049 million tons, down 33.1 per cent from the previous month. In June, China imported 49000 tons of sulphide minerals, of which Jinchuan Group imported 39000 tons from Australia, South Africa and Mozambique.

Chromium ore, ferrochromium

[ferrochromium import data] according to customs data, China's chromium ore imports in June 2019 were 1.3315 million tons, a decrease of 16500 tons from the previous month, a decrease of 1.22 percent, and an increase of 302700 tons over the same period last year, an increase of 29.43 percent. The cumulative import volume from January to June was 7.6 million tons, an increase of 85000 tons, or 1.13 per cent, over the same period last year.

[ferrochromium price rising trend continues to limit electricity is still the main reason for the price increase] on July 23, the ferrochromium market maintained a rising trend, some manufacturers quoted 6300 to 6400 yuan / 50 base tons, rising by about 50 yuan / 50 base tons, Inner Mongolia electricity limit is still the main reason for the increase in ferrochromium prices, at the same time, the recent rise in chromium ore is also the iron factory to produce certain support. Near the end of the month, although the short-term ferrochromium prices rose slightly, but some people in the industry believe that the second round of steel moves will be the same as last month, the main price trend depends on downstream demand and transaction situation.

Stainless steel

[June China's stainless steel import and export volume] SMM: customs data show that in June, China's stainless steel exports also decreased by 21.09%, by 11.1% to 283700 tons, and stainless steel imports by 71.1%, 31.5% to 48200 tons, of which imports of stainless steel from Indonesia decreased by 74.2% compared with the previous month, and decreased by 94% to 6500 tons compared with the same period last year.

[Foshan stainless steel price down 50 yuan / ton] SMM July 23: Foshan stainless steel 200 series, 300 series market prices are reduced by 50 yuan / ton, 201 2B volume price 8100 8200 yuan / ton, 304 2B rough edge roll price 15100 15300 yuan / ton. Some traders said that the current quotation is relatively stable, but the actual transaction price range is relatively large, due to the shortage of funds at the end of the month and bearish future market, some traders let profit shipment, 304 cold rolling in 14900 to 15200 yuan / ton range have a deal.

[SMM stainless steel plant guide price] July 24 Wuxi stainless steel plant guide price hot rolled down 100 yuan / ton https://news.smm.cn/news/100953516

[guide Price of SMM stainless Steel Plant] Weekly Price of Dongfang Special Steel announced (7.23 to 7.29) https://news.smm.cn/news/100953251

[guide price of SMM stainless steel plant] weekly settlement price of 304-430 series stainless steel issued by Jiuquan Iron and Steel Co., Ltd. Https://news.smm.cn/news/100953247

Inventory

According to the SMM survey, the total amount of nickel stocks in Shanghai, including the previous warehouse receipt stocks, rose 6192 tons, or 8.68 per cent, from last week to 77500 tons. The specific changes are as follows: stocks in East China increased by 800 tons to 32300 tons compared with last week, while stocks in the Shanghai Free Trade Zone (including Shanghai Tianwei, Capital Management Hall, facing Port, Jiekai and Henry Bath) refined nickel stocks increased by 4000 tons to 18000 tons over the same period.

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