According to the nickel price monitoring of business agency, on the 24th, the average price of nickel spot market was 176766.67 yuan / ton, down 2.78% from the previous trading day and up 22.64% year-on-year.
In August, manufacturing activity in Europe shrank, and the growth of factory activity in Japan and the United States slowed down. In July, the sales of new single family homes in the United States plummeted to a six-and-a-half-year low. At the beginning of this week, the nickel price was strengthened by the Indonesian policy news. However, due to the limited basic support, the future price continued to fall, and the domestic high temperature limit film affected the output of nickel sulfate plant. On the supply side, the arrival volume of Russian nickel increased significantly, while the terminal demand was weak, the nickel iron transaction was cold and the nickel price was under pressure. It is expected that the nickel price will remain low and fluctuate widely.
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