The latest price of nickel (4-12): 190246.67 RMB / ton, the market outlook will fluctuate

Key points of analysis: The decline in the dollar boosted base metals, and London nickel closed up 1.82% overnight. The LME lowered the margin for nickel from US$6,100 to US$5,700, which boosted nickel prices slightly. In March, the national refined nickel production totaled 17,600 tons, an increase of 1.73% month-on-month and a year-on-year increase of 39.68%. On the demand side, market transactions were weak. The acceptance of ternary precursor enterprises to the price of nickel sulfate has declined, and the price of nickel sulfate has fallen. Downstream stainless steel inventories are high, profit losses, and steel mills are overhauling and reducing production. Alloy and electroplating companies purchased at low prices, but orders fell short of expectations.

Forecast of the market outlook: The rebound of nickel prices is mainly affected by the macro, and the overall fundamentals are weak. It is expected that nickel prices will fluctuate in a wide range in the short term.

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