I. Trend analysis
Nickel prices fluctuated narrowly this week, according to business association data. At the beginning of the week, the nickel price was 137166.67 yuan/ton. At the end of the week, the nickel price fell to 136583.33 yuan/ton, a slight drop of 0.43%, a 52.29% increase over the beginning of the year and a 34.03% increase over the previous year.
| Melamine |
II. Market Trend Analysis
Recently, nickel prices have been in a narrow fluctuation trend. In early July, the news of Indonesia’s Mine Ban fluctuated, and eventually the dust fell to the ground. Nickel prices soared by nearly 40%. After the nickel price reached a high level, the high and narrow range shocks were dominant, and there was no big fluctuation.
At the beginning of this week, the Shanghai nickel index was 138830 points. Since then, prices have shocked narrowly, closing at 136710 points on Friday, with a weekly decline of 0.44%. The LME3 was $17,770 at the beginning of the week and closed at $17,645 at the end of Friday, a 0.40% weekly decline.
| Azodicarbonamide (AC foaming Agent) |
Downstream, stainless steel production profit slightly lost, inventory at a high level. The premium of nickel sulfate is higher than that of electrolytic nickel, and the consumption performance is weaker. Market: This week, nickel turnover is normal, business delivery is flat, downstream purchasing willingness is general.
3. Prospects for the Future Market
Nickel analysts from the Nonferrous Metal Branch of Business Association believe that Indonesia’s mining ban policy has a significant impact on nickel enterprises. The Philippines can hardly afford the import demand of nickel mines in China, and nickel mines will face shortage. However, previous gains were mainly due to the full realization of positive factors, coupled with weak consumption and insufficient momentum to continue to rise in the short term. Nickel prices are expected to remain volatile.
| EDTA |