1、 Trend analysis
According to the nickel price monitoring of the business community, on July 7, the nickel price fell slightly, with the spot price of 134666.67 yuan / ton, down 2.66% from the previous day, up 5.1% from the beginning of the year, and up 25.99% from the same period last year. Shanghai nickel main opening at 138010 yuan, after the opening fell sharply to close at 135480 yuan, down 1.84%. LME3 closed at 18275 yuan, up 1.42%.
The strong US dollar put pressure on metals, and lunni fell to a two-week low of 2.22% overnight; The profit of ferronickel plant rebounded, the purchasing demand slowed down, the spot transaction of refined nickel was weak, and most businesses mainly stayed on the sidelines. The supply side of domestic nickel mines is tight, and the consumption growth of new energy vehicles has increased significantly, and the consumption of nickel sulfate has improved. Although the actual demand for downstream stainless steel is good, Indonesia’s ferronickel supply and new stainless steel production capacity will still exert pressure on nickel price. It is expected that the short-term nickel price will fluctuate widely.
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