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Nickel review: stainless steel production growth supported nickel prices decline or restricted

by:Deyuan      2020-12-23
【 Abstract 】 China data is less than expected in September triggered further renminbi devaluation fears, London nickel fell 1. 56%; Domestic enterprise production growth supported nickel stainless steel demand outlook, now is now nickel or not.

the futures market: China September trade data import and export both poor display at home and abroad demand is weak, causing further renminbi devaluation worries, commodity market sentiment, evening fell, the international metal nickel plate performance weak, close to 10415 dollars fell $165, down to 1. 56%; Volume 6004 of an increase of 1197 hands, holdings of 262372 an increase of 1175 hands. Shanghai nickel on main 1701 contract today opening price 81090 yuan down 1070 yuan, nickel 09:30 Shanghai 1701 contract fell 250 yuan to 81910 yuan. Today Shanghai nickel market consolidation is expected to continue.

London metal exchange ( LME) 13, Aaron ni latest inventory of 360096 metric tons, the previous trading day inventory to reduce 444 metric tons.

is expected: in the first nine months of this year, the Philippines, the largest nickel miners nickel ore shipment of 15. 18 million tons, year-on-year decline in nearly 4. 9%; China's infrastructure investment increased and the improvement of living standards for market growing demand for stainless steel, stainless steel production enterprises in China production to increase support for nickel demand prospects, is expected to support the afternoon nickel prices; Today the spot price of nickel or went sideways.

【 Nickel information 】 International stainless steel BBS in the near future, according to data released 1 - China's stainless steel production in June of 11. 73 million tons, from the same period a year earlier by 7. 9%. British institute of goods ( CRU) This year China's stainless steel production is expected to increase 7. 8% to 23. 2 million tonnes, but next year, growth is expected to slow to 2. 1%. Requirements of the estimated 1. 9 million tons of nickel, about two-thirds from stainless steel enterprises, and occupy the vast majority of China. China's imports rose nearly 45% to 2 August nickel. 90000 tons.
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