1、 Trend analysis
According to the nickel price monitoring of the business association, on June 3, the spot nickel price was 103783.33 yuan / ton, up 0.84% compared with the previous trading day, down 8.75% compared with the beginning of the year, up 6.1% year on year.
| EDTA |
2、 Market analysis
In May, ISM manufacturing industry in the U.S. stabilized at a low level. Overnight, LUNI nickel rose 2.22% to a three-month high. Domestic favorable policies continued, and the prospect of industrial metal demand may improve, supporting the rise of nickel price. In terms of nickel ore, xinka, the Philippines and Guatemala will play an alternative role. The domestic epidemic in the Philippines is serious, resulting in limited supply of nickel ore and low domestic production of nickel and iron. Indonesia’s ferronickel production is in good condition and has not been affected by too many epidemics. The port inventory of nickel ore declined and the price of ore steadily strengthened. In terms of consumption, the sales of new energy vehicles are down, and subsidies are expected to continue to mitigate the impact of the industry; the supply and demand of downstream stainless steel are weak, and short-term consumption pressure suppresses the rebound space above the nickel price, but the output of stainless steel is expected to increase, supporting the rebound of nickel price below.
3、 Future prospects
Future forecast: tight supply, weak downstream consumption, nickel price is expected to maintain high volatility trend.
| EDTA 2Na |