1、 Trend analysis
According to the nickel price monitoring of the business agency, the spot nickel price rose first and then fell this week. The weekend price was 105583.33 yuan / ton, up 0.32% from 10525 yuan / ton at the beginning of the week, up 6.22% year on year.
2、 Market analysis
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This week, Shanghai nickel’s main market opened at 103500 yuan, then the price fell in shock, closing at 104650 yuan, down 0.58%. LME3 closed at US $13160 at the end of the month, up 2.57% on a weekly basis.
This week, nickel prices fluctuated, traders took goods cautiously, and the procurement of downstream enterprises was limited, some of which had not yet started, and market trading was not active. The performance of the consumer side was poor, and the growth rate of new energy vehicles continued to decline. The stainless steel inventory is at a new high. After the year, the procurement is limited, and some downstream works have not been started.
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3、 Future prospects
Future forecast: Although many traders return to work this week, the logistics is not smooth and the downstream consumption is not good. In addition, the demand for nickel for electric vehicles is optimistic, and there is support under the nickel price. Nickel price is expected to maintain a narrow range of volatility in the short term.
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