1、 Trend analysis
| ferric sulfate (Poly ferric sulphate) |
According to the nickel price monitoring of business society, the nickel price fluctuated and rose this week. As of November 12, the spot price was 148133.33 yuan / ton, up 2.76% from 144150 yuan / ton at the beginning of the week, up 15.61% from the beginning of the year, and up 20.96% year-on-year.
Nickel weekly rise and fall chart
According to the weekly rise and fall chart of business society, in the past 12 weeks, nickel prices have increased by 3 and decreased by 9, with more or less recent declines.
Macro factors: a large real estate group heavily indebted paid bond interest on time, which makes people expect that the real estate industry may get more policy support, and the domestic real estate risk appetite has warmed up.
Nickel industry chain
| Chitosan oligosaccharide |
Supply: in November, the main mining area of Suli high nickel mine in the Philippines gradually entered the rainy season. Since the end of October, loading has been suspended or new shipping schedules have been suspended. With the advent of the rainy season, nickel ore shipments will decline seasonally again. Sumitomo Metal’s nickel production decreased month on month in the third quarter, the global nickel supply was still tight, and the superimposed nickel inventory continued to be deposed.
Downstream: the crude steel output of domestic stainless steel plants in November is expected to be 2.5812 million tons, with an increase of 14.39% month on month. The current inventory of stainless steel is still at a relatively low level, and there is no obvious increase in inventory. Entering the traditional off-season, the demand for stainless steel is relatively weak, mainly purchasing on demand.
To sum up: the macro level is strong this week, the nickel supply is still tight, the power restriction of downstream steel mills is relaxed, and the purchase may increase. However, the price of stainless steel was weak, which dragged down the price of nickel to a certain extent. The nickel price is expected to maintain a wide shock trend in the short term.
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