1、 Trend analysis
According to nickel price monitoring of business society, nickel price fell slightly on the 27th, with spot nickel price of 135950 yuan / ton, down 1.79% from 138433.33 yuan / ton on the previous trading day, up 6.1% from the beginning of the year, and up 23.63% from the same period last year. Shanghai nickel mainly opened at 134950 yuan. After the opening, the price fell under pressure and closed at 133710 yuan, down 0.22%. LME3 closed at US $18080, down 0.06%.
As the epidemic raged, the demand was worried, and the nickel price fell overnight. London Metal Exchange (LME) 26 Lun nickel inventory reported 248688 metric tons, 156 metric tons less than the previous day’s inventory. Domestic nickel mines on the supply side are still tight, and the consumption of nickel sulfate is improved due to the sharp increase in the consumption growth of new energy vehicles, but the real battery consumption still needs some time. The construction of ferronickel in Indonesia is on schedule, and there will be an increase in supply in the future. Near the Spring Festival, the maintenance of stainless steel plants is a drag on nickel consumption, and the demand for goods preparation and collection in the downstream is gradually weakening before the festival, so the nickel market may be limited in further upward space.
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