1、 Trend analysis
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According to the monitoring of nickel price of the business agency, on June 16, nickel price fell sharply, spot price was 130416.67 yuan / ton, down 3.25% compared with the previous day, up 1.78% from the beginning of the year, up 26.37% year on year.
The index hit a month high with the dollar strong as the PPI data released late on the 15th was higher than expected, and the nickel was down 4.82 percent overnight, leading other varieties. The market has strengthened regulation over concerns about rising commodities, and the market is also concerned about China’s demand performance, and the underlying metals have been hit down. In addition, the Philippine nickel mine export increased, Indonesia ferronickel was put into production steadily, the supply and demand of ferronickel gradually relaxed, and the nickel supply was loose. With the expansion of capacity and technical improvement, the supply surplus of nickel market is expected to be strong.
Forecast: the decline of nickel price is mainly affected by macro factors. The stainless steel and new energy automobile industry have strong demand for nickel, and the basic level is still available. The falling space is limited, but it is necessary to avoid the drag of domestic consumption in off-season.
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