Nickel price rose slightly on October 24

According to the nickel price monitoring of the business community, on the 24th, the average price of nickel in the spot market was 193633.33 yuan/ton, up 2.53% from the previous trading day and 28.19% year on year.

 

US stocks soared and the US dollar fell, with Rennie closing down 0.05% the following week. Vale wants to separate copper nickel business, and the demand prospects for copper and nickel are strong. Since electric vehicles, charging stations and other renewable energy infrastructure all need these base metals, new energy and stainless steel will increase the nickel price, and the cost demand of ferronickel will be double supported. However, Indonesia Liqin RKEF4 production line has been put into production, and the supply demand will be double increased. In the case of double increase in supply and demand, it is expected that nickel prices will continue to fluctuate widely.

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