1、 Trend analysis
According to the nickel price monitoring of the business agency, on May 13, the spot nickel price was 100650 yuan / ton, down 2.15% from the previous trading day, 11.5% from the beginning of the year, up 2.91% year on year. Shanghai nickel mainly opened at 101020 yuan, and then the price first suppressed and then rose, closing at 100900 yuan, up 0.03%. LME3 closed at $12285 at the end of the month, unchanged from last day’s closing price.
| Melamine |
2、 Market analysis
Recently, nickel price fluctuates widely. Norilsk Nickel Co., Ltd. of Russia expects that the nickel market will supply 130000 tons of excess in 2020, and the global nickel market will supply excess in 2020, which is expected to make nickel price under pressure. London Metal Exchange (LME) 13 Lun Ni inventory at 233310 metric tons, compared with the previous trading day inventory level. China’s nickel production rose, with refined nickel production rising 5.7% month on month (MOM) in April, up 9% year-on-year to 1472 tons. In addition, on May 12, the Tariff Commission of the State Council announced the second exclusion list of the second batch of goods subject to tariff on the United States and Canada, which mainly includes: rare earth metal ore, silver ore and its concentrate, gold ore, nickel alloy plate / sheet / strip / foil, nickel alloy wire, nickel alloy tube, aluminum alloy tube, titanium tube, nickel cadmium battery, etc.
| EDTA |
3、 Future prospects
Future forecast: the increase of production and the oversupply of nickel market are expected to put the nickel price under pressure, but the downstream stainless steel consumption turns better and the inventory drops, supporting the nickel price. It is expected that nickel price will continue to fluctuate strongly in the short term.
| EDTA 2Na |