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新能源及有色金属日报:不锈钢盘面横盘振荡,现货成交转淡-20250807
Hua Tai Qi Huo·2025-08-07 05:05

Report Summary 1. Report Industry Investment Rating - No industry investment rating is provided in the report. 2. Report's Core View - For the nickel market, the current oversupply situation of refined nickel remains unchanged, with continuous release of nickel intermediate product capacity and loosening of mine - end prices. However, due to the recent change in market macro - sentiment, nickel prices are expected to oscillate within a range in the near future [3]. - For the stainless - steel market, high - nickel iron is weakly stable, and the retail price of ferrochrome is strongly stable, so there is still cost support for stainless steel. But downstream rigid - demand orders are few, and spot trading is weak, lacking impetus for price increase. It is expected that stainless - steel prices will maintain a range - bound and slightly stronger operation in the near future [5]. 3. Summary by Related Content Nickel Variety - Market Analysis - On August 6, 2025, the main contract of Shanghai nickel 2509 opened at 120,500 yuan/ton and closed at 121,070 yuan/ton, a change of 0.22% from the previous trading day's closing price. The trading volume was 87,840 lots, and the open interest was 86,052 lots [1]. - The night session of the main Shanghai nickel contract opened slightly lower, then fell rapidly, and then oscillated higher. The day session rushed up and then fell back, closing slightly higher in the afternoon with a medium - sized positive line. The trading volume increased compared with the previous trading day, and the open interest decreased [2]. - In the Philippines, mines are mostly in the shipping stage. Downstream domestic iron plants mostly reduce production loads, and raw material procurement remains cautious. In Indonesia, the weather has improved slightly, nickel - mine mining efficiency has increased, and the nickel - mine market has weakened. In August (Phase I), the domestic trade benchmark price increased by 0.2 - 0.3 US dollars; the domestic trade premium in August (Phase I) is mainly +24, flat compared with the previous period, in the range of +23 - 25 [2]. - In the spot market, the morning quotation of Jinchuan nickel increased by about 200 yuan/ton compared with the previous trading day, and the quotations of mainstream market brands also increased accordingly. The nickel price on the disk oscillated strongly, and the spot trading of refined nickel was average. Most of the spot premiums and discounts of refined nickel remained stable. Among them, the premium of Jinchuan nickel changed by 0 yuan/ton to 2,250 yuan/ton, the premium of imported nickel changed by 0 yuan/ton to 350 yuan/ton, and the premium of nickel beans was 2,450 yuan/ton. The previous trading day's Shanghai nickel warehouse receipts were 20,789 (- 134.0) tons, and the LME nickel inventory was 211,452 (198) tons [2]. - Strategy - Unilateral: Mainly conduct range operations. - No strategies are provided for inter - period, inter - variety, spot - futures, and options [3]. Stainless - Steel Variety - Market Analysis - On August 6, 2025, the main contract of stainless steel 2509 opened at 12,950 yuan/ton and closed at 12,935 yuan/ton. The trading volume was 82,019 lots, and the open interest was 84,046 lots [3]. - The night session of the main stainless - steel contract opened slightly lower, then fell rapidly, and then oscillated back up after getting support. The day session rushed up but was blocked and then oscillated horizontally, closing with a negative doji. The trading volume increased slightly compared with the previous trading day, and the open interest increased [3]. - In the spot market, the futures disk oscillated horizontally, and the spot price changed little. Purchasers hoped to buy at low prices, while agents were reluctant to reduce prices for shipment, and the overall trading situation was average. The stainless - steel price in Wuxi market was 13,050 yuan/ton, and that in Foshan market was 13,050 yuan/ton. The premium and discount of 304/2B were 160 to 360 yuan/ton. According to SMM data, the ex - factory tax - included average price of high - nickel pig iron changed by 2.00 yuan/nickel point to 918.0 yuan/nickel point the previous day [3]. - Strategy - Unilateral: Neutral. - No strategies are provided for inter - period, inter - variety, spot - futures, and options [5].