Trend analysis

According to the nickel price monitoring of the SunSirs, the nickel price mainly fell last week. As of June 10, the spot nickel price was 219066.67 RMB/ton, down 3.64% from 227333.33 RMB/ton at the beginning of the week, up 64.65% year-on-year.

According to the business agency, in the past 12 weeks, the nickel price has risen by 6 and fell by 6, and the recent trend of nickel price has mainly fluctuated in a wide range.

The nickel market lacks obvious contradiction points in the short term. It fluctuates with other metals in rhythm. Logically, the supply rebounds and the demand is weak as a whole.

The contradiction of resource shortage is gradually alleviated. Especially in the new energy field, with the increase of the supply of intermediate products, the new energy demand of nickel beans is gradually weakened. The terminal alloy and electroplating industries replenished the inventory, and the output of stainless steel in May exceeded the expectation, and the consumption of electrolytic nickel improved. However, in June, some steel mills reduced production and maintenance, and the demand for nickel plates is expected to decline. In the medium and long term, with the gradual production and release of nickel metal production capacity in Indonesia, nickel metal surplus will be realized gradually.

It is expected that there will be a qualitative change in nickel metal balance in the third quarter. Nickel price still maintained a wide fluctuation trend.

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