1、 Trend analysis
According to the nickel price monitoring of the business agency, the nickel price rose first and then fell this week. As of the end of the week, the spot nickel price was 119250 yuan / ton, down 1.38% from the beginning of the week, 4.85% higher than the beginning of the week, and 18% lower than the same period of the same year. The recent trend of nickel price is better, and there is a correction at the weekend.
| ferric sulfate (Poly ferric sulphate) |
2、 Market analysis
Fitch raised its nickel price for 2020
Fitch raised its forecast for nickel prices in 2020. Prices remain unchanged in the medium to long term, reflecting possible tight supply as the Indonesian government still bans ore exports and may not be completely replaced by other nickel suppliers. Fitch expects strong long-term demand, especially from electric vehicle batteries.
Ore prices continue to strengthen
At the end of August, the price of low and medium grade nickel ore in Mysteel rose, while the price of high-grade nickel ore remained stable temporarily. Among them, Ni: 0.9% High Alumina ore CIF price is 33 US dollars / wet ton; Ni: 0.9% low aluminum ore CIF price is 43 US dollars / wet ton; Ni: 1.5% nickel ore CIF price is 60 US dollars / wet ton; Ni: 1.8% nickel ore CIF price is stable at 80 US dollars / wet ton.
As the Philippines is about to enter the rainy season, the domestic ferronickel plants are enthusiastic about the preparation of warehouses before the rainy season. The shortage of nickel ore supply has not been alleviated in this stage, and the shipping costs have been increased. As a result, the domestic nickel prices remain high and traders are reluctant to sell their goods.
Downstream stainless steel
This week, the downstream stainless steel prices rose, Wuxi inventory of the total number of each department, 300 series of resources is still in the process of rapid de stocking, which due to the relatively limited supply of hot rolling, the overall speed of stock removal is faster than that of cold rolling. The cold rolling increase of 300 series is less than that of hot rolling. Traders are more enthusiastic about increasing inventory, while terminals are purchasing on demand. The market price is higher, but the transaction is general. The demand for materials for home appliances is still showing signs of recovery, and the stainless steel end will also benefit from it.
| Benzalkonium chloride |
New energy vehicles
The sales volume of new energy vehicles in Europe has surpassed that in China from January to July. The Chinese market is also recovering gradually, but it is still difficult for the market to exceed last year’s level. The demand for new energy battery is recovering, but the price of ternary precursor may not be able to follow the rise of nickel. The price of nickel sulfate is not as high as that of electrolytic nickel, and nickel sulfate is lack of low-cost resources.
3、 Future prospects
After market forecast: the ore supply is tight, the demand for new energy is improved, and the performance demand of stainless steel chain is better, especially the arrival of the peak season in September, which has boosted the nickel price. However, with the capacity expansion of Indonesia ferronickel project, the market is worried about the accelerated return of Indonesian ferronickel to China, which will lead to oversupply in the domestic market and drag down the nickel market. Nickel is expected to maintain a strong trend in the short term.
| http://www.lubonchem.com/ |