Today's nickel market (8.1) cut interest rates to the ground, but the Federal Reserve does not pigeon nickel prices continue to fluctuate at a high level with the support of funds.

[August 1 SMM nickel product price]

[August 1 SMM nickel market trends]

Electrolytic nickel

Spot: SMM July 31 News: Russian nickel than Shanghai nickel 1909 discount 300-paste 250yuan / ton, Jinchuan nickel than Shanghai nickel 1909 contract generally reported a rise of 1600 to 1800 yuan / ton, today traders generally quoted Shanghai nickel 1909. Early trading hours, nickel prices fell back to 112800 tons near consolidation, holders due to the contract month, have downgraded the rising water, but downstream continue to fear high and cautious procurement, holders support the willingness to lift water is still strong, mainly because the spot circulation supply is not very abundant. It is difficult for traders to collect goods because of low prices, and the trading is equally light. In the second trading session, nickel prices continued to explore, basically around 112000 to stop falling, spot trading slightly warmer, but the overall is still not optimistic, the downstream is still more in the wait-and-see. The mainstream transaction is 111700 to 114200 yuan / ton.

[Jinchuan company ex-factory price] SMM August 1: Jinchuan company electrolytic nickel (big plate) Shanghai quotation 114000 yuan / ton, barreled small pieces 115200 yuan / ton, up from yesterday.

Nickel ore, nickel iron

SMM August 1: according to SMM research, an old production line of a nickel-iron plant in East China has been shut down in the near future, the transformation time is expected to be longer, or will be modified to 2020, the normal production capacity of the production line is about 300 to 350 metal tons.

Chromium ore, ferrochromium

SMM July 31: July 31, ferrochromium market prices remain stable, landmark steel plants a new round of high-carbon ferrochromium price unchanged from last month to point out a stable direction for the recent high-carbon ferrochromium price, but it is worth noting that many ferrochromium factory quotations have exploration intention, ferrochromium manufacturers said that the current profit space is small, or even cost upside down, the southern ironworks is in a state of loss, but it is worth noting that many ferrochromium manufacturers have an upper exploration intention, and some ferrochromium manufacturers say that the current profit space is relatively small, even the cost is upside down, and the southern ironworks is in a state of loss. The operating rate is dismal, the price of raw chromium ore is rising at the same time, so the willingness to produce is low, and most ferrochromium plants are interested in cleaning up inventory pressure with little transaction. Steel price announcement after the release of ferrochromium demand, the overall transaction atmosphere to be invigorated, ferrochromium prices may be expected in the future.

Stainless steel

SMM August 1: Foshan Taiyuan Iron and Steel Co., Ltd. cold rolling quotation (including tax edge cutting base price), 304 2B quoted 15500 yuan / ton; 316L quoted 22250 yuan / ton; 430L quoted 8000 yuan / ton. Today's quotations are the same as yesterday.

Inventory

Total nickel stocks in Shanghai, including the previous warehouse receipt stocks, rose 1846 tons, or 2.4 per cent, from last week to 79400 tons, according to a SMM survey. The specific changes are as follows: stocks in East China increased by 900 tons to 33200 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 1000 tons to 19000 tons over the same period.