1、 Trend analysis
According to the nickel price monitoring of the business association, on April 20, the nickel price rose sharply to 101216.67 yuan / ton, 3.14% higher than the previous day, up 0.40% year on year. Shanghai nickel opened at 98970 yuan, followed by a sharp rise in price, closing at 102300 yuan, up 3.29%. LME3 ended at $12385, up 2.61%.
| Gamma-PGA (gamma polyglutamic acid) |
2、 Market analysis
Supply blocked: at present, the production and transportation of nickel mining area in the Philippines is suspended until April 30. Last week, only 8 ships were loaded, far less than the 23 ships in the same period last year. If the supply is restored at the end of April, it is estimated that the metal loss will be about 30000 metal tons, and if it is restored at the end of May, the metal loss will reach 70000 metal tons. On the Indonesian side, the six lines put into operation this year are lagging behind the release increment of this month, Jinchuan The maintenance of two lines in Indonesia affected the supply of nickel and iron, and the epidemic also affected production efficiency.
In terms of inventory, LME inventory increased by 1242 tons to 330000 tons, while domestic inventory in the previous period decreased by 179 tons to 28000 tons, bonded area inventory decreased by 1700 tons to 17900 tons, and inventory in three areas increased by 363 tons to 276000 tons on a month on month basis, an increase of 61000 tons compared with the same period last year, and an increase of 64000 tons compared with the beginning of the year.
Downstream rise: the downstream stainless steel price rose nearly one thousand yuan in two weeks, which led to a substantial increase in spot price and supported nickel price.
3、 Future prospects
Future forecast: the supply of nickel is blocked, and the price of stainless steel in the downstream is rising, which forms support for nickel. It is expected that the short-term nickel price shocks are relatively strong.
| Azodicarbonamide (AC foaming Agent) |