1、 Trend analysis
According to the monitoring of nickel prices by Business Society, the average spot nickel market price on the 3rd was 130050 yuan/ton, an increase of 1.04% from the previous trading day.
US bond yields rose, the US dollar rebounded, and metals generally closed lower under pressure. The continuous release of new production capacity for nickel intermediate products and nickel iron in China and Indonesia, the maintenance of excess supply in the nickel market, and the increasing accumulation of LME nickel inventories have limited the extent of price rebound. Recently, nickel sulfate prices have stopped falling and stabilized, and stainless steel prices have rebounded weakly supported by expectations of restocking. The disturbance of nickel surplus and the pressure of accumulated inventory have increased, but post holiday bargain hunting and restocking transactions have warmed up, putting pressure on the rebound of nickel prices. Expected short-term low volatility trend of nickel.
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