1、 Trend analysis
According to the nickel price monitoring of business society, on the 6th, the average nickel market price was 222683.33 yuan / ton, down 3.2% from the previous trading day and up 68.25% year-on-year.
The appreciation of the US dollar and the strengthening of US bond yields put pressure on metals, and Lun nickel closed down 2.01% overnight. In the context of interest rate hikes, inflation is high, fears of economic recession are intensified, and metal demand is bleak. Although domestic nickel pig iron smelting activities have decreased significantly, global nickel smelting activities are still increasing as a whole. It shows that high prices stimulate the production of global nickel products, and the supply-demand relationship of price adjustment nickel city is playing a strong role, which is conducive to promoting the nickel price to fall back to the fundamentals. On the 5th, a magnitude 6 earthquake occurred in the Philippines, but it was far away from the main mining area, which did not affect the operation of nickel mines. The shipment of nickel mines in the Philippines decreased by 30% in April. Considering the impact of domestic anti epidemic on the entry of nickel mines, the supply of nickel mines decreased in April, which was good for the price of nickel. Nickel is expected to maintain a partial shock pattern in the short term.
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