Nickel prices rose 1.09% (1.18-1.22) slightly this week

1、 Trend analysis

 

According to the nickel price monitoring of the business community, the nickel price rose first and then fell this week. The spot nickel price was 138200 yuan / ton, up 0.57% from 137416.67 yuan / ton at the beginning of the week, up 7.86% from the beginning of the year, and up 25.67% year on year. At the beginning of this week, Shanghai nickel mainly opened at 132660, then the price fluctuated sharply, closing at 133380 on Friday, up 0.75%. Lunni closed at $18090 by Friday’s deadline, up 0.25% for the week.

 

2、 Market analysis

 

At the macro level, US bond interest rates rose, but inflation expectations did not follow. The market was worried about the gradual withdrawal of quantitative easing. However, China’s economic data was strong, China’s annual GDP data was relatively bright, and the commodity market had a certain boost. At present, the supply of refined nickel is relatively stable, the consumption of downstream stainless steel is better than the same period in previous years, the consumption of new energy is strong, the spot supply is tight, there is still strong support below, and the supply and demand of refined nickel in the middle line is better.

 

Future forecast: the current good macro environment can provide a certain support for the high consolidation of nickel price, the fundamental change is not big, and it is expected that nickel price will still maintain a high volatility pattern in the near future.

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