Price trend

According to the nickel price monitoring of SunSirs, nickel prices rose first and then fell this week. As of March 18, the spot nickel price was 222,766.67 RMB/ton, down 0.29% from the price of 223,416.67 RMB/ton at the beginning of the week, and up 80.74% year-on-year.

Analysis review

According to the nickel price monitoring of SunSirs, in the past 12 weeks, the nickel price has risen for 9 weeks and fell for 2 weeks and the price has remained unchanged for one week. Recently, the nickel price has been running strongly.

Supply and demand: At present, the uncertainty of the macro situation is still strong, and the Federal Reserve will raise interest rates by 25 basis points as scheduled, which will have an intensified impact on the trend of nickel prices. LME nickel resumed trading, and the disk continued to drop by the limit. In view of the price difference between domestic and foreign nickel markets, there is still a certain room for decline in LME nickel in a short period of time. However, the current global refined nickel inventory continues to decline, maintaining a very low level, which is a strong support for nickel prices.

Market outlook

To sum up: Nickel industry chain enterprises have a strong wait-and-see mood and do not purchase much. In the short term, the trend of nickel prices may maintain a wide range of fluctuations.

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