1、 Trend analysis
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According to the nickel price monitoring of the business agency, the nickel price rose slightly on the 28th. The spot nickel price was 122766.67 yuan / ton, up 2.05% compared with the previous trading day, 7.94% higher than the beginning of the year, and 9.75% lower than the same period last year. Shanghai nickel opened at 119400 yuan, and the price rose sharply after the opening, closing at 125210 yuan, up 4.87%. LME3 nickel closed at US $16290, up 2.36%.
2、 Market analysis
Nickel Asia, the largest nickel ore producer and exporter in the Philippines, said on the 28th that it had suspended the operation of one of its four mines until November 10 after the outbreak of the new crown outbreak. This news comes out, cause the market to nickel ore supply worry, nickel price rises in response. In addition, due to the rainy season in the Philippines, the local nickel production and transportation are limited, and the domestic market has a strong willingness to support the price, and the shipholders are optimistic about the demand prospect of electrolytic nickel in the fourth quarter.
3、 Future prospects
Aftermarket forecast: the decrease of supply supports the strengthening of nickel price, and it is expected that the short-term nickel price will maintain a strong shock operation.
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