Price trend

According to the nickel price monitoring of SunSirs, on the 10th, the nickel price fell sharply, and the spot price was 241,216.67 RMB/ton, down 22.22% from the previous trading day and up 96.8% year-on-year.

Analysis review

Affected by the announcement on delivery issued by Tsingshan, all nickel prices fell by the limit in the night trading except for the near-month contracts. According to media reports, Tsingshan Holdings replaced domestic metal nickel plates with its high matte nickel plates, and deployed spot delivery through various channels. The nickel price market hadbegun to deviate from the fundamentals and entered the market's game of inventory and delivery, and the market trend was more uncertain.

Market outlook

It is expected that the short-term nickel price will fluctuate sharply.

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