1. Trend analysis

According to the nickel price monitoring of the SunSirs, the spot nickel price rose first and then fell this week. The weekend price was 105,583.33 RMB/ton, up 0.32% from 10,525 RMB/ton at the beginning of the week, up 6.22% year on year.

2. Market analysis

This week, Shanghai nickel's main market opened at 103,500 RMB, then the price fell in shock, closing at 104,650 RMB, down 0.58%. LME nickle in March closed at $13,160, up 2.57% on a weekly basis.

This week, nickel prices fluctuated, traders took goods cautiously, and the procurement of downstream enterprises was limited, some of which had not yet started, and market trading was not active. The performance of the consumer side was poor, and the growth rate of new energy vehicles continued to decline. The stainless steel inventory is at a new high. After the long festival, the procurement is limited, and some downstream works have not been started.

3. Future prospects

Although many traders return to work this week, the logistics is not smooth and the downstream consumption is not good. In addition, the demand for nickel for electric vehicles is optimistic, and there is support under the nickel price. Nickel price is expected to maintain a narrow range of volatility in the short term.

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