1、 Trend analysis
According to the nickel price monitoring of the business agency, the spot nickel price rebounded slightly this week, with a weekend quotation of 98033.33 yuan / ton, up 4.44% from 93866.67 yuan / ton at the beginning of the week, down 5.6% year on year.
| EDTA |
2、 Market analysis
Futures quotations
At the beginning of this week, the main nickel market in Shanghai opened at 93800, and since then, the price is relatively strong. It rose sharply on Friday to close at 97310, up 5.31% on a weekly basis. Lennie closed at $11705 at Friday’s closing, up 4.46% on the week.
Philippines ban escalation
In recent years, the impact of the epidemic on the nickel supply side has increased, and the Philippine ban has been upgraded. The president of the Philippines said that he would like to extend the blockade until April 30. All mining and production processing in the high area of northern Missouri has been suspended since April 1, and nickel miners such as pgmc, TMC and HMC voluntarily suspended their mining and export business in April.
Ferronickel plant is not eager to purchase
At present, the existing nickel ore inventory of domestic mainstream nickel iron plants can still support January to March. Some small and medium-sized nickel iron plants are short of nickel ore raw material inventory. Although most domestic nickel iron plants are in deficit, most nickel iron plants plan to consider the shutdown after fully digesting the nickel ore inventory.
| EDTA 2Na |
Stainless steel inventory pressure relief
In late March, the stainless steel inventory was digested to some extent, and the current inventory pressure was relieved. However, due to the spread of the global epidemic, the export orders of stainless steel in the overseas market were reduced. At present, the stainless steel market is still in the pattern of oversupply and the price of stainless steel is weak.
3、 Future prospects
Future market forecast: the supply of nickel ore in the Philippines is affected by the epidemic. Nickel ore shipments may decline in April, and domestic port inventory of nickel ore continues to decline. Currently, nickel price does not touch the global mainstream cost of nickel (below $10000). It is expected that nickel price will rebound slightly in the short term, but the rebound range may be limited.
| Melamine |