1. Trend analysis

According to SunSirs nickel price monitoring, spot nickel price showed a trend of slowing down and then rising. The weekend offer was 102,066.67 yuan / ton, which was 0.49% higher than the early week's 101,566.67 yuan / ton, up 3.71% year-on-year.

2. Market analysis

At the beginning of this week, Shanghai nickel opened at 98,960 points. After the price rose, it fell into shock. It closed at 101,720 points on Friday, with a weekly increase of 1.77%. London nickel closed at $ 12,295 by Friday, with a weekly increase of 2.93%.

After the May Day holiday, downstream stainless steel took the initiative to increase prices, and the nickel market also recovered the decline during the holiday. Due to the recent increase in the price of nickel-iron and nickel ore, the cost of raw materials has increased, and steel mills have raised their prices. In addition, the social stock of stainless steel has fallen in April, and the demand has been released. It is a great support for nickel products. LME nickel stocks remained basically stable this week.

Since April, the price of ferronickel has rebounded greatly, from 872.5 yuan / nickel point in early April to 955 yuan / nickel point this week. The recovery of ferronickel price is the main support for the rise of nickel ore prices. In a state of substantial upside-down, some manufacturers have a weaker willingness to continue to buy ore, and the price of ore is unlikely to rise. According to the latest survey results, the volume of ferronickel will still decrease in April, but in May, with the high iron price stabilizing and the mine end easing, production will rebound.

3. Outlook

The raw material price support is superimposed by the stainless steel factory's active price increase, the stainless steel price remains strong, and the current downstream acceptance is acceptable, and the transaction is relatively active. Therefore, if the stainless steel maintains a good market, its purchase and consumption of nickel will also be at an ideal level. Rigid demand is relatively difficult to break, so although the current macro environment is still difficult to support a sharp rebound in prices, nickel prices still tend to be more. Nickel's short-term shocks are expected to be strong.

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