I. trend analysis
According to the nickel price monitoring of the business association, the current nickel price on October 22 is 128016.67 yuan / ton, down 0.35% from the previous trading day, up 43.02% from the beginning of the year, up 25.62% year on year.
II. Market analysis
| Azodicarbonamide (AC foaming Agent) |
Recently, nickel price has been declining. In terms of fundamentals, Indonesia’s early ore ban will lead to a domestic nickel iron gap next year, and the Philippines’ supply increase will be limited, which will lead to a domestic shortage of 130000 metal tons. However, the downstream stainless steel production profit declined, the existing steel plants stopped production, the demand for nickel decreased, and the nickel price was under pressure.
III. future prospects
Future market forecast: supply and demand are weak, LME nickel plate inventory is at a historical low, which has certain support for nickel price. In the early stage, the prohibition of mining was good news consumption. Now, nickel is mainly weak earthquake, and it is expected that nickel will still fluctuate in a weak trend in the short term.
| EDTA |