1、 Trend analysis

According to nickel price monitoring of business association, nickel price rose slightly on the 22nd. Spot nickel price was 124583.33 yuan / ton, up 1.37% from 122900 yuan / ton on the previous trading day, down 2.77% from the beginning of the year, up 29.08% from the same period last year.

2、 Market analysis

Today, nickel prices rebounded slightly. Crude oil rose, rising by 1.47% in shock every other week. Philippine nickel output fell, London Metal Exchange (LME) 19 Lun nickel inventory reported 259974 metric tons, compared with the previous trading day inventory decreased 234 metric tons. Downstream domestic stainless steel inventory is not much, the recent transaction is good, nickel price is supported. Previously, affected by the high nickel matte incident, nickel prices have been mainly low and narrow range fluctuations after a sharp fall. Affected by the rainy season in the Philippines, the prices have been supported. However, the rainy season in the Philippines is coming to an end, and the supply is expected to increase. It is hard to say that nickel prices will continue to rise. However, it is the peak season of construction, and there will still be support for nickel prices. Nickel prices are expected to remain in the range of 120000-130000.