1、 Trend analysis
On June 22, nickel price fell slightly, spot nickel price was 102750 yuan / ton, down 0.47% compared with 103233.33 yuan / ton of the previous trading day, down 9.66% compared with the beginning of the year, up 3.67% year on year. Shanghai nickel opened at 104190 yuan, followed by downward price pressure, closing at 101860 yuan, down 2.25%. LME3 nickel closed 0.39% lower at $12680 at the end of the month.
| EDTA 2Na |
2、 Market analysis
Fitch, a research institution, said that demand for nickel ore and metal nickel is expected to be affected by the epidemic this year, but global nickel ore production is expected to shrink by nearly 20% this year. Nickel prices rose at the beginning of the week due to supply shortage. Then, the latest data from the world Bureau of metal statistics showed that the apparent demand of the global nickel market in the first four months of this year fell by 31400 tons year on year, during which the global nickel market oversupplied 14400 tons, Upward pressure on nickel price. In addition, the low consumption of domestic new energy vehicles has reduced the demand for nickel since this year, and the transaction volume in the downstream market has declined.
3、 Future prospects
Future forecast: weak supply and demand, coupled with the off-season demand in June, nickel price is expected to be weak in the short term.
| EDTA |