I. Trend analysis
Nickel prices have risen sharply this week, according to business associations. At the beginning of the week, the price of nickel was 97308.33 yuan/ton. At the end of the week, the price of nickel rose to 10366.67 yuan/ton, a sharp increase of 3.14%.
| Melamine |
II. Market Trend Analysis
This week, nickel prices rose sharply, mainly due to heavy rains in Indonesia, causing supply concerns, detonating nickel prices, but the overall nickel fundamentals are weak. On the supply side, the May data show that the domestic production of medium and high nickel iron is 432,000 tons, an increase of 40% over the same period last year. Then in June, the production of medium and high nickel iron is expected to reach 44,000 tons, an increase of 56.9% over the same period last year. On the demand side, stainless steel stocks in the downstream are high and demand is weak.
| Azodicarbonamide (AC foaming Agent) |
3. Prospects for the Future Market
Nickel analysts at the non-ferrous branch of the business association believe that the recent floods in Nepal have damaged some mining equipment, while local debt relaxation stimulates infrastructure construction, double-edged to push up nickel prices, while refining nickel plate inventory is low, but the demand for stainless steel downstream is weak, and nickel price shocks are expected to be strong.
| EDTA |