Yesterday, the price of nickel continued to rise. After the opening, the price of nickel rose steadily and sharply. The price of coils rose sharply. The price of the Foshan market increased by 100-300. At the same time, the lack of some specifications also contributed to the upward momentum.
The guide price of 201 Lianzhong Steel Mill increased by 200, Hongwang and Chengde rose by 300, and Foshan 201's four-foot cold rolled mainstream quotation was at 8700-8800. The price advantage may further drive market transactions and increase market confidence.
In the 304 cold-rolled market, the resources of Taigang Steel are relatively stable, and other prices have risen to varying degrees. The 304 cold-rolled cutting edge includes taxes at 15150-15300. According to merchants, the spot market price still rises in the afternoon and the futures are relatively stable. ; Private 304 cold-rolled Hongwang guide price rose 250, base price including burr tax is 14850-15250, some traders' prices also rose slightly in the afternoon; in the hot-rolled market, the price rose relatively 50-100, the mainstream price of 6.0 was 13900-14200 Foshan Hot Rolling has also been relatively stable due to the lack of supply.
Closing summary: Shanghai nickel futures volume rose in the day, the main 1807 contract closed at 106,490 yuan, an increase of 2.35%, the trading volume has been enlarged compared with the previous few days, in terms of fundamentals, the state of destocking continues, giving strong nickel prices Support; technically, today the price runs above the major moving averages. The MACD Golden Fork is expected to remain strong in the short term, and the price may rise further. The bullish view remains unchanged.
From: Stainless Steel Business Network