1、 Trend analysis

According to the nickel price monitoring of the business agency, the spot nickel price fluctuated narrowly this week, with a weekend quotation of 93866.67 yuan / ton, up 0.64% from 93266.67 yuan / ton at the beginning of the week, down 9.13% year on year.

2、 Market analysis

The main nickel market in Shanghai opened at 92900 at the beginning of this week, after which the low price rebounded and closed at 92640 on Friday, down 0.86% in the week. Lennie closed at $11290 at Friday’s closing, down 1.14% on a weekly basis.

This week’s nickel deal was flat, Jinchuan Nickel up discount was stable, Russia nickel flat water quotation, downstream receiving limited, cautious slightly. As of the end of the week, domestic spot nickel prices rose, and some businesses continued to stock up a small amount of goods before the festival, and the transaction heat fell. At present, affected by the foreign epidemic, traders are worried about export orders in the next two months. Downstream stainless steel stocks are still high. In terms of supply, at present, the supply of Philippines is at the annual low level, and the import of nickel ore is tight.

3、 Future prospects

Future forecast: Indonesia nickel miner association suggested the government relax nickel ore export, the impact of oversupply will reduce price expectations. In addition, due to the impact of public health events, the demand expectation is weakened, and the short-term low nickel price is expected to fluctuate.