Latest Update in the SMM Nickel Market

Metals market: As of midday close, the base metals in the domestic market were generally lower. Shanghai lead and Shanghai zinc rose slightly, and the increase was within 0.5%. Shanghai copper, Shanghai aluminum, and Shanghai nickel all fell, and the decline was within 0.6% (inclusive).

Stainless steel disk shocks and rises, spot follows up, steel mills lock in the transaction price of forward raw material ferronickel continues to reach a new high [Nickel Pig Iron Daily Review] [SMM Daily Comment: Stainless Steel Disk Shocks Rise, Spot Rises, Steel Mills Lock Forward Raw Material Ferronickel Transaction Price Continues to Reach New High] On April 22, the average price of SMM8-12% high nickel pig iron was 951.5 yuan/nickel point (ex-factory tax included), up 4 yuan/nickel point from the previous working day...

Towards the end of the month, the forward raw material demand of stainless steel plants was released, and the  [Nickel Pig Iron Daily Review] [SMM Daily Review: Towards the end of the month, the forward raw material demand of stainless steel plants was released, and the upstream was more willing to raise the price, and the price of ferronickel transaction prices rose] On April 23, the average price of SMM8-12% high nickel pig iron was 956 yuan/nickel point (ex-factory tax included), up 4.5 yuan/nickel point from the previous working day...

[Nickel pig iron daily review] [SMM daily comment: stainless steel market sentiment fell ferronickel upstream and downstream game prices temporarily stabilized] On April 24, the average price of SMM8-12% high nickel pig iron was 956 yuan / nickel point (ex-factory tax included), which was flat compared with the previous working day...

 [Nickel Pig Iron Daily Review] [SMM Daily Comment: The spot price of stainless steel is temporarily stable, and the price of ferronickel circulating resources is tight and strong] On April 25, the average price of SMM8-12% high nickel pig iron was 959 yuan/nickel point (ex-factory tax included), up 3 yuan/nickel point from the previous working day...

[SMM Daily Comment: The price of steel mills is expected to be on the sidelines, and the price of ferronickel is expected to be stable in the short term] On April 26, the average price of SMM8-12% high nickel pig iron was 960 yuan/nickel point (ex-factory tax included), up 1 yuan/nickel point from the previous working day...

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Apr 26, 2024

Nickel sulphate prices held stable before the lower end of the price range slightly increased in the week ending April 25.