1. Trend analysis

According to the nickel price monitoring of SunSirs, on March 11, nickel was reported at 103,616.67 RMB/ton, a slight increase of 1.5% from the previous day and a decrease of 0.81% year-on-year.

2. Market analysis

The price of nickel rebounded slightly recently. Prior to the sharp drop in crude oil, metals generally fell sharply. But as leaders visited Wuhan, market confidence boosted and metal prices rebounded sharply. In terms of fundamentals, the arrival of imported ore has been delayed, nickel ore supply has been reduced to support prices, and downstream demand has slowly recovered, further supporting nickel prices.

3. Outlook

The market outlook forecast: Nickel prices will rise due to market confidence boost, demand has not fully recovered, but it is expected to pick up, nickel short-term fluctuations are expected to be strong.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.