SMM Nickel Market Trends on May 22nd
Electrolytic nickel
Nickel spot: SMM May 25th: today's SMM1 Electrolytic Nickel quotation 100600won 101900 yuan / ton. Today, after a brief shock in the opening of Shanghai nickel trading, almost sideways trading, although nickel prices have changed less than last Friday, but due to the release of terminal consumer demand over the weekend, more wait-and-see today, so the overall trading situation in the morning market is light. Russo Nickel to Shanghai Nickel 2007 contract quoted 100 yuan / ton to Pingshui, some traders hold newly imported Russian nickel has a lower discount quotation, but the price is more difficult to copy in the market; in the morning, due to weak downstream demand, mostly inquiry circulation among traders. Jinchuan Nickel to Shanghai Nickel 2007 contract rose 1,100,000,000 yuan / ton, the morning transaction was also deserted. The ex-factory price of Jinchuan is 101500 yuan / ton, and traders have a small amount of No. 2 nickel and No. 3 nickel to receive goods in Gansu. The nickel bean discount is reduced to 1000 yuan / ton.
[ex-factory price of Jinchuan Company] SMM May 25: Jinchuan Electrolytic Nickel (big board) quoted price of 101500 yuan / ton in Shanghai, 102700 yuan / ton of small pieces in barrels, and 101050 / ton in Jinchang, which is the same as last Friday.
Stainless steel, ferrochromium
[Wuxi stainless steel afternoon review] SMM May 25th: today, Wuxi stainless steel spot quotation is generally stable, there are individual traders 304 hot rolling slightly reduced by 50 yuan / ton, the quotation range is: 304amp 2B rough edge rolling price range 13500murf 13800 yuan / ton; 304 / NO.1 13150Mube 13250 yuan / ton, the average price is reduced by 50 yuan / ton; 304pm 2B factory coil price quoted 13900rel 14100 yuan / ton price is stable. The price of Wuxi stainless steel spot price is generally stable, with a slight reduction of 50 yuan / ton, with a slight reduction of 50 yuan / ton in the spot price of stainless steel in Wuxi area. Last Friday, Castle Peak Steel released a new offer price for July, which was cut by 300 yuan / ton for both hot and cold rolling, but the spot market price is relatively stable and there is no big fluctuation. Some traders reflected that the market spot resources did not concentrate a large number of arrival, the trend is relatively stable, but the follow-up price changes depend on the downstream demand. For 10:30 SHFE SS2007 contract price is 13275 yuan / ton, Wuxi stainless steel spot water is 395mur695 yuan / ton. (spot trimming = rough edge + 170 yuan / ton)
[Foshan stainless steel afternoon review] SMM May 25: on Monday morning, the spot resource quotation of 200 series and 300 series cold rolling in Foshan region fell slightly by 50 won 100 yuan / ton. at the end of the month, the pressure of most merchants going to the warehouse increased, and the demand for goods downstream was weak, but the spot resource quotation was subject to the price of raw materials, and steel prices did not fall sharply. Steel prices were more stable at the beginning of the week. Foshan area steel quotation, the state-owned 304amp 2B trimming crimping price than the average price last Friday held steady at 14,100,14,400 yuan / ton, private 304Universe 2B rough edge curl than the average price last Friday reduced by 100yuan / ton in 13500 NO. 13700 yuan / ton, 304 / NO. 1 five-foot quotation than last Friday offer stable at 13,100Mel13300 yuan / ton, to 10:30 SHFE SS2007 contract selling price of 13275 yuan / ton, Foshan stainless steel spot water 395 color 595 yuan / ton. (spot trimming = rough edge + 170).
[SMM Steel Plant guidance Price] SMM May 25: the spot daily guidance price of Wuxi Taiyuan Iron and Steel Co., Ltd. is 50 yuan / ton higher than that of last Friday.
SMM5 March 25, since the bid for high-carbon ferrochromium in Qingshan rose sharply in June last week, the quotations of local manufacturers are also rising day by day. Today, the mainstream quotation of high-carbon ferrochromium in Inner Mongolia is 6200mur6350 yuan / 50 base tons, the northwest region is 6350Muth6450 yuan / 50 base tons, and Sichuan 6450Mui 6600 yuan / 50 base tons. Some people say that the current retail ferrochrome quotation is aimed at the steel price and will not rise excessively, and the excessive price increase is not conducive to market acceptance and affect the shipping speed, and at present, it is mainly based on relatively low cost inventory consumption, so it is more safe to realize the profit in time.
Inventory
According to SMM, as of Friday, the inventory of the previous period was down 688 tons from last week to 26799 tons, all of which came from Shanghai delivery depots. Hidden inventory in East China increased by 1793 tons to 11622 tons compared with last week, of which the inventory of nickel beans increased by 500 tons to 2200 tons. It is reported that the amount of nickel in and out of the spot warehouse is relatively large, with about 2-3 kilotons of Russian nickel in storage. Guangdong Southern Reserve stocks, mostly electroplating grade nickel, fell from 640 tons to 607 tons this week. To sum up, while the inventory in the bonded area decreased, the domestic social inventory increased by 1072 tons to 39028 tons.
Nickel Research Group of Nonferrous Metals Department
Liu Yuqiao: + 86 Murray 21 Mutual 51666804 / liuyuqiao@smm.cn
Li Chuntian: + 86 Murray 21 Murray 51666817 / springli@smm.cn
Zhang Lingying: + 86 Murray 21 Mutual 51666901 / zhanglingying@smm.cn
Zhao Ming: + 86 Mui 21Mui 516666780 / tylerzhao@smm.cn
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