1、 Trend analysis
| Melamine |
According to the nickel price monitoring of the business agency, on the 19th, the nickel price dropped slightly. The spot nickel price was 118400 yuan / ton, down 0.17% from the previous trading day, 4.1% higher than the beginning of the year, and 4.16% lower than the same period last year. Shanghai nickel’s main market opened at 116380 yuan. After the opening, the price first suppressed and then rose, closing at 116470 yuan, up 0.16%. LME3 nickel closed at US $15765, up 0.06%.
2、 Market analysis
On the supply side, domestic nickel ore was tight, and nickel sulfate consumption improved. In October, the sales of new energy vehicles increased by 104.5% year-on-year, and the supply of stainless steel was sufficient. Indonesia’s ferronickel construction step by step, there will be an increase in supply in the future. Nickel iron supply has a loose trend, stainless steel production remains high, consumption performance is flat, forming upward pressure on prices. In the first nine months of this year, the global nickel market oversupplied by 50000 tons, while the global demand decreased by 169 thousand tons compared with the same period last year. The market is oversupply and nickel price is up against resistance.
3、 Future prospects
Aftermarket forecast: nickel ore supply is still tight, stainless steel prices fell sharply, short-term nickel prices are expected to maintain a weak shock operation.
| Azodicarbonamide (AC foaming Agent) |