1、 Trend analysis
According to the nickel price monitoring of the business club, on the 30th, the average nickel market price was now quoted at 189000 yuan / ton, up 2.55% from the previous trading day and 38.51% year-on-year.
In the new round of economic sanctions against Russia, the British government imposed sanctions on the richest man in Russia and the president of Norilsk Nickel. Affected by this event, LME nickel once rose by more than 8%, and the overnight Lun nickel closed up by 3.22%. However, the amount of nickel products imported by Britain from Russia is very small, and the impact is limited. However, whether it will affect the registration and delivery of all Noni in LME remains to be concerned. Nickel fundamentals are expected to be weak, the supply will turn into surplus in the second half of the year, the actual consumption level is still weak, and the consumption off-season is approaching.
Forecast: due to the UK’s announcement of sanctions against Russian Financial oligarchs, nickel prices rose, but the actual fundamentals were empty, and the room for nickel to rise may be limited.
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