According to the nickel price monitoring of the business agency, on the 11th, the average nickel market price is now 183516.67 yuan / ton, up 2.77% from the previous trading day and 32.58% year-on-year.
On Friday, the U.S. non farm data significantly exceeded expectations. Although this strengthened the Fed’s expectation of raising interest rates by 75 basis points, the fear of economic recession was slightly weakened, and LUNI closed up 1.87% against the market trend the following week. The development momentum of new energy vehicles is booming, and the output of nickel mines at home and abroad has increased, while low inventories support nickel prices. In terms of fundamentals, the pressure on raw materials remains, the prices of nickel ore and ferronickel continue to fall, and the supply is expected to shrink slightly under the loss of iron mills. In terms of downstream stainless steel, steel mills have continued to reduce production, social inventories have fallen, and merchants have continued to support prices, which has slightly stabilized the price of stainless steel. However, at present, the terminal demand has not improved significantly, and the price support of stainless steel is weak.
Forecast: in general, although there is still pressure in the industrial chain, nickel will be supported by a certain macro level and bottom in the short term, and the price may stop falling and stabilize.
| PVA |