Sunsirs: Nickel Prices in China Fell 2.45% Last Week (3.8-3.12)
March 15 2021 08:53:41 SunSirs (Linda)
1. Price
Last week, the nickel price fluctuated and fell. The spot nickel price was 122750 yuan / ton, down 2.45% from 125833.33 yuan / ton at the beginning of the week, down 4.2% from the beginning of the year, and up 22.44% year on year. At the beginning of last week, Shanghai nickel mainly opened at 122700, then the price fluctuated in a narrow range, and closed at 120950 on Friday, with a weekly decline of 0.66%. Lunni closed at $16160 by Friday's deadline, down 1.31% for the week.
2. Market analysis
Previously, due to the successful trial production of high nickel matte, or lead to reshaping the nickel industry pattern, the nickel price was hit hard, and the price plummeted continuously. However, the actual impact of this event still has a certain period of time, and there are many uncertain factors in the future. After the bad consumption, the nickel price gradually stabilized. On the supply side, the rainy season in the Philippines is not over, and the domestic nickel port inventory continues to decline; new items of ferronickel in Indonesia are released, and the new output flows back to China; the price of stainless steel raw material high carbon ferrochrome rises due to the power restriction policy in Inner Mongolia, the cost center moves up, and the price is supported below; the battery orders continue to improve, driven by the new energy automobile industry, and the raw material supply is saved due to the innovation of new technology application Shift from tight to loose expectations.
3. Future forecast
Nickel price is expected to remain in the range of 120000-130000 in the near future.
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- 2024-02-21 SunSirs: Nickel Morning Newspaper on February 20th
- 2024-02-01 SunSirs: The nickel price in January mainly fluctuated widely
- 2024-01-16 SunSirs: Nickel Prices Had Slightly Increased This Week (January 8-12)
