According to the nickel price monitoring of the business community, the spot price of nickel on August 8 was 114,318.75 yuan / ton, up 0.9% from the previous day, rising 3.16% for two consecutive days, up 35.61% year-on-year.
On the macro level, US employment growth slowed in July, and the US dollar fell 0.3% overnight, hitting the biggest drop in a week to help support metal prices. In terms of output: in July, the natural monthly output of electrolytic nickel in China was 12,400 tons, a decrease of 9.69% year-on-year. The cumulative output from January to July was 83,700 tons, a year-on-year decrease of 8.30%. In July, the national output of electrolytic nickel increased by 4.72% from June, as the electrolytic nickel resumed profitability, and manufacturers in southern China resumed the increase in the contribution of some electrolytic nickel production and natural days. Although nickel prices have risen more, the price of downstream stainless steel has not increased.
The market outlook: As the US dollar fell, the nickel price rose, but the fundamentals did not change much, and the downstream performance was calm. It is expected that the nickel price will maintain a strong and volatile pattern in the short term.
| Thiourea |