1、 Trend analysis
According to the nickel price monitoring of the business community, the nickel price rose slightly this week. The spot nickel price was 122900 yuan / ton, up 0.42% from 123833.33 yuan / ton at the beginning of the week, down 4.08% from the beginning of the year, and up 33.42% year on year. At the beginning of this week, Shanghai nickel mainly opened at 121300, and then the price fluctuated in a narrow range, closing at 120610 on Friday, down 0.28%. Lunni closed at US $16035 on Friday, up 0.12%.
2、 Market analysis
This week, nickel prices mainly fluctuated at low levels, with little rise or fall. Since the previous high nickel matte event, nickel prices have been stagnant and hovering at a low level. The domestic nickel mine inventory in the upstream has dropped to the lowest level in recent years, and the mine restart of Norilsk company has been delayed, and the nickel mine tension has continued. Recently, the news of Qingshan ferronickel turning to high nickel matte has been gradually digested. At present, the domestic nickel inventory is still at a low level, and the tight supply situation still exists, which supports the stabilization of nickel price. However, as the end of the rainy season approaches in the Philippines, the situation of tight nickel mines will be eased, or there will be pressure on nickel prices.
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