1、 Trend analysis

According to the nickel price monitoring of the business community, on May 18, the nickel price rose slightly, with the spot price of 135083.33 yuan / ton, up 2.74% from the previous day, 5.42% from the beginning of the year, and 34.93% from the same period last year. Shanghai nickel opened at 130800 yuan. After the opening, the price rose strongly to 134450 yuan, up 2.80%. LME3 closed at 18050 yuan, up 0.61%.

Crude oil rose to boost market sentiment, international metals rose overnight, and lunni continued to close 1.70% higher. Macroscopically, the US CPI in April exceeded expectations. Recently, the price of ferronickel has rebounded significantly. After the price of nickel sulfate rebounded, the economy of nickel beans has improved and the support for nickel price has increased. Stainless steel inventory turns down again, which is still good for the industrial chain in the short term. Refined nickel inventory is still at a historical low, which is conducive to price rebound. In the middle line, Qingshan’s high nickel matte will suppress the continuous upward trend of nickel price. Nickel price is expected to fluctuate in a wide range in the short term.