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  • Shaanxi Tonghui Steel Co., Ltd.

  • E-mail: sxthsteel@sxth-group.com

  • Tel: +86-29-89636557

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  • The Sino US Trade War Is Still Clouded With A Focus On The Price Of Nickel
    Aug 03, 2018

    stainless steel sheet/bar/pipe

    SMM August 3rd news: the overnight disks of nickel and nickel open at 13405 US dollars / tonnes, the current trade war worries again. At noon, the center of gravity is around $13455 / ton sideways. In the afternoon, the nickel continued to fall, the bottom 13360 US dollars / ton, then the bottom rebound, the sharp rally of the nickel nickel, the pressure of $13600 / ton again, and then the center of gravity, after a short fluctuation of $13520 / ton, continued to drain and find out $13275 / ton. At night, 13200 dollars per ton below the support, the nickel rebound, shock repair, but the upper pressure day average, again fall, center of gravity around 13355 dollars / ton narrow fluctuation. Closing at $13350 per ton, volume increased by 1419 to 114 722, position increased by 615 to 240,000, and inventory decreased by 192 to 25,470 tons.

    Every night, the Shanghai nickel 1809 opens at 113100 yuan / ton. Due to the aggravation of the Sino US trade war worries, the bull's confidence is not enough, the warehouse is reduced and the stock is short. At the beginning of the market, nickel fell sharply below the daily average and reached 110950 yuan / ton, then the center of gravity fluctuated around 111360 yuan / ton. At the end of the night, it continued to increase its position, and Shanghai nickel continued to leak, making a thorough search of 109860 yuan / ton, and almost all the gains in the past two weeks. At 110090 yuan / ton, trading volume is reduced from 91 thousand to 305 thousand, and the stock is reduced by 1.2 to 218 thousand hands.

    The dollar rose overnight, breaking through the 95 juncture. The trade war between China and the United States is cloudy and anxious. The external market is mixed up, and Lun Ni has fallen slightly. The color of the internal market is generally low and high, but Shanghai nickel is low and low. And in August, NPI is expected to return to about 8%. There is no strong demand in the lower reaches. It is expected that the center of gravity is expected to be around 13300 US dollars / tonnes, and the main contract of Shanghai nickel is 109000~110500 million yuan / ton, and the spot price is 109500~111000 million yuan / ton.


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