Weekly Report 1.11-1.15–Yantai Oriental 2

NICKEL NEWS

Nickel Trend: The three-month futures price of nickel on the London Metal Exchange (LME) surged by US$630/ton on January 14, closing at US$18,315/ton, and the spot price also soared by US$715/ton to US$18,400/ton. The average nickel price of this month has reached US$17,580/ton, higher than the US$16,823/ton in December 2020. Finally, nickel price increased 570USD in this week, closing at US$18,105/ton. Reason: According to market participants, the effect of the Philippines’ mining ban on Tumbagan Island in Tawi-Tawi province has weakened due to the stronger US dollar. Both the impact of the COVID-19 epidemic and the weakening demand from China have limited the growth of nickel prices.Therefore, nickel prices were expected to fluctuate in the short term.

STEEL NEWS

CHINA: It was reported that the most-traded stainless steel futures on the Shanghai Futures Exchange (SHFE) for March delivery rose by 0.8% yesterday (January 13), mainly driven by stable demand from downstream buyers and higher prices of raw material. According to GF Futures, the demand has recovered due to rising export orders. However, the prices of raw materials used for making stainless steel had a surge. The supply of ferrochrome became tight since some capacity in Inner Mongolia was suspended recently.

COLD ROLLED PRICES

TISCO :

304 2B, Slit Edge, 2.0MM – 3.0MM * 1219/1500MM *C, FOB CHINA:

2310USD/MT; (Offered Sizes: Thickness 0.3MM – 3.0MM)

430 2B, Slit Edge, 2.0MM – 3.0MM * 1219/1500MM *C, FOB CHINA:

1465USD/MT; (Offered Sizes: Thickness 0.3MM – 3.0MM)

HONWGANG:

201J1, 2B, Mill Edge, 0.85-2.5MM *1240MM *C, FOB CHINA:

1320USD/MT; (Offered Sizes:0.25MM -3.0MM)

201J2, 2B, Mill Edge, 0.85-2.5MM *1240MM *C, FOB CHINA:

1265USD/MT; (Offered Sizes:0.25MM -3.0MM)

LISCO:

430 2BA Mill Edge 1.5-2.0MM *1219MM *C FOB CHINA:

1395USD/MT (Offered Sizes:0.3MM -3.0MM)

DATE: 11, January- 15, January Page:5/6

HOT ROLLED PRICES

TISCO:

304 NO.1, MILL Edge, 2.5MM -10.0MM *1219/1500/1524MM *C, FOB

CHINA: 2200USD/MT; (Offered Sizes: Thickness 2.0MM – 16.0MM)

ESS:

304 NO.1, MILL Edge, 4.0MM -6.0MM *1500MM *C, FOB CHINA:

2140USD/MT; (Offered Sizes: Thickness 4.0MM – 16.0MM)

DELONG:

304 NO.1, MILL EDGE, 3.0-10.0MM *1240MM *C,