ferronickel

On April 17th, the domestic ex factory price of high nickel iron was lowered by 5-10 yuan to 985-990 yuan/nickel; The domestic factory price has been reduced by 10 yuan to 990-1000 yuan/nickel; The tax inclusive price of Indonesian high nickel iron tank bottom has been reduced by 10 yuan to 980-990 yuan/nickel, and the FOB price of Indonesian nickel iron has been reduced by 1 US dollar to 117 US dollars/nickel. A steel plant in East China sold nearly 10000 tons of nickel iron at 980 yuan/nickel (including tax at the bottom of the tank), putting pressure on the price of nickel iron. On the cost side, the new nickel product franchise fee in Indonesia is about to be implemented, and the tax rates for various varieties have increased. Coupled with the recent tight supply of nickel ore and high ore prices, the profit margin of nickel iron continues to narrow. On the supply side, there is dual pressure from upstream and downstream, and iron mills have suspended quotations. Some traders' quotations are mainly concentrated at 990-1000 yuan/nickel (including tax in the cabin bottom), and market transactions are limited. On the demand side, the stainless steel market remains weak, and steel mills are increasing their pressure on raw material prices, resulting in a downward shift in psychological prices. We need to pay attention to the latest transaction dynamics of nickel iron and the supply situation of nickel ore in Indonesia in the future.

ferromolybdenum

This week, the molybdenum market was initially under pressure and then slightly rose. In terms of raw materials, several large mines have no intention of shipping, the bulk cargo market is active in inquiries, and holders are reluctant to sell due to hoarding. The psychological price difference between buyers and sellers is large, and there are not many actual transactions; In terms of molybdenum iron, some small and medium-sized steel mills have raised their prices compared to yesterday, with representative steel mills failing to meet their standards. Iron mills have a strong willingness to raise prices, and some manufacturers have suspended quoting and shipping; In terms of terminal demand, 300 series stainless steel futures have fluctuated and weakened. Due to the consideration of holding costs and the narrowing of market volatility, merchants are adopting a wait-and-see approach to stabilize prices. With the fluctuation of the market, merchants are increasing their profit margins in the afternoon to promote transactions; Overall, molybdenum prices have bottomed out and rebounded, but the upward potential is still limited.

3、 Short term forecast

Recently, due to macroeconomic factors, the mentality of the 304 steel sheet market has been unstable, and low-priced resources are more popular in transactions, while high priced resources are hindered in shipments. From the demand side, as the May Day holiday approaches, downstream companies may engage in replenishment operations in the market next week. However, the purchasing sentiment remains cautious, and downstream users choose to enter the market at low prices for procurement. The release of demand for 304 steel sheets may not be obvious, so the price may bottom out and rebound in late April, but the rebound is limited. At present, the domestic and international economic environment is complex, policies are constantly changing, and market uncertainty is increasing. In the later stage, it is still necessary to focus on the support of raw material costs and macro policy dynamics.