1、 Trend analysis
According to the nickel price monitoring of the business association, on February 25, the spot nickel price increased slightly, with the quotation of 102416.67 yuan / ton, 0.75% higher than the previous day, and 20.33% higher than the previous year. Today, Shanghai nickel opened at 102040 yuan, followed by a stronger price, closing at 102670 yuan, down 0.05%. LME3 ended 1.69% higher at $12670 at the end of the month.
2、 Market analysis
| PVA |
Recently, nickel price has been in a downward trend, as stainless steel downstream enterprises are not fully back to work, stainless steel inventory remains high. The growth rate of new energy vehicles continued to decline, the negative growth of new energy vehicles affected the demand for nickel sulfate, and the production of ferronickel remained normal. However, Indonesia’s ban on mining and the reduction of supply in the Philippines in the rainy season have certain support for nickel price. Domestic nickel mine has a certain amount of reserves, and there is no signal of nickel mine shortage for the time being, and nickel mine price remains stable.
3、 Future prospects
Aftermarket forecast: affected by uncertainty factors such as global public health events, the global economic outlook is worrying, market risk aversion is still in the upper hand, and the downstream transaction situation is not good. However, with the start-up of factories around the world, the nickel supply is reduced, and the short-term upward pressure consolidation trend of nickel is expected.
| POLYVINYL ALCOHOL |