1、 Trend analysis
According to the monitoring of nickel prices by the Business Society, on the 13th, the average spot market price of nickel was 163850 yuan/ton, a decrease of 2.09% compared to the previous trading day.
On the eve of the release of August CPI data in the United States, the cautious atmosphere in the market rose, and the US dollar index strengthened again, with Lunni closing 3.03% lower overnight. In the short term, frequent disturbances occur at the mining end in Indonesia; The rainy season is approaching in the Philippines; Due to pollution issues, the Indonesian government has recommended five nickel mines to suspend production and rectify, providing support for nickel prices. However, domestic electrolytic nickel production continues to increase in volume, with weak spot transactions for refined nickel. Pure nickel supply suppresses nickel prices, and the focus shifts downwards. LME nickel inventory has accumulated in the short term. The domestic nickel supply is strong and the demand is weak. With the release of new production capacity, the long-term trend of nickel prices is downward, but there is still a lot of short-term mining news disturbance, which forms support for nickel. Nickel prices are expected to fluctuate widely.