1、 Trend analysis
| Chitosan oligosaccharide |
According to the nickel price monitoring of the business agency, the nickel price fell slightly on the 2nd, with the spot nickel quotation of 118500 yuan / T, down 1.74% compared with the previous trading day, 4.19% higher than that at the beginning of the year, and 13.19% lower than the same period last year.
2、 Market analysis
On the macro level, the second wave of global epidemic has soared, the European blockade has intensified, and investors have become increasingly worried about global economic growth and metal demand. At the same time, the strength of the US dollar has made us dollar denominated commodities more expensive for holders of other currencies, and further pressured metal prices. On the supply side, with the advent of rainy season in the Philippines, the nickel ore transportation volume decreased significantly. The window period of domestic nickel ore replenishment has passed, and the port nickel mine inventory is at a low level in recent years. The raw material inventory of ferronickel plants is mostly less than March. In the fourth quarter, domestic ferronickel may enter the process of substantial production reduction. However, the production capacity of nickel iron stainless steel in Indonesia continues to be put into production, and the future supply will further increase, squeezing the domestic market. Judging from the situation of downstream stainless steel enterprises, the inventory of 300 series stainless steel in Wuxi and Foshan is still on the high side, and the consumption is weak at the end of the year, so the boost of demand side is expected to be limited. In September, Indonesia produced 55700 metal tons of ferronickel, an increase of 6.49% month on month.
3、 Future prospects
Post market forecast: the recent surge in nickel prices has been boosted by some mine closures in the Philippines, but the short-term mine closures are not the fundamental driving force for upward price. In November, the downstream gradually entered the off-season, combined with the impact of the epidemic situation, it is expected that the short-term nickel price will maintain a weak fluctuation.
| ferric sulfate (Poly ferric sulphate) |