LME nickel bottomed rebound stainless steel scrap quote up
LME nickel rebound effect, nearly two days domestic stainless steel scrap price is higher among the 304 charge have been reported to the price of 12900 yuan / ton, the price level of new materials has been reported to the top of 13000 yuan / ton, but were relatively scarce, some traders have started planning according to the receipt, I expect stainless steel scrap market outlook still have further upside possible.
Spot market for nickel and stainless steel
The market spot price on 18th,Sept.show that market of Yangtze River 1# nickel price is 132000 – 134500 yuan / ton, compared with the previous day prices; Shanghai market 1# nickel bid for the 131000 – 134000 yuan / ton, compared with the previous day prices unchanged; Guangdong nonferrous 1# nickel price for 135000 yuan / ton, compared with the previous day at the same price; 1# nickel Huatong nonferrous offer for 131000 – 134000 yuan / ton, compared with the previous day price rose 1000 yuan / ton, today the domestic Jinchuan group Jinchuan nickel factory price, the new electrolytic nickel (plate) price 133000 yuan / ton, electrolytic nickel (bulk) 134200 yuan / ton.
Spot quotation for nickel and stainless steel: 304/2B cold rolled stainless steel, TISCO new 19900 yuan / ton, 20000 yuan / ton, Zhangpu 20400 yuan / ton, compared with the previous day flat, hot 304/No.1, at 18600 yuan / ton, Baosteel stainless Zhangpu 18600 yuan / ton, 18600 yuan / ton.
LME nickel closing quote $17320 / ton, up 20 U.S. dollars over the previous day, inventory 118620, a decrease of 186 tons compared to the previous day.
In China,cold rolled stainless steel Exchange yesterday, coil, forward contracts of electrolytic manganese metal three trading varieties a total turnover of 24686 hands, 47810 hand orders, compared with the previous trading day increased by 2548. The electrolytic nickel futures traded a total of 1195816 hands, the quantity of order 12568066, compared with the previous day to reduce 270804. The latest exchange receipts for 3928 tons of electrolytic nickel, compared with the previous day increased 40 tons.