On the 13th, spot nickel fell slightly, and spot nickel reported 153,383.33 yuan/ton, down 1.11% from the previous trading day. The nickel price correction at a high level was mainly caused by fear of heights. Since the end of April, the nickel price has been on a volatile upward trend. In terms of fundamentals, the rainy season is approaching in the Philippines, and the tight supply supports nickel prices. The downstream stainless steel production is continuously restricted, and multiple plants are overhauled. The output in September is low, which affects the demand for nickel. In terms of downstream new energy, the performance is still acceptable. In August, the wholesale sales of new energy passenger vehicles and the retail sales of new energy passenger vehicles both increased to varying degrees.

Forecast: The supply is tight and the demand for stainless steel is limited. The nickel price is expected to fluctuate mainly in the short-term.

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