Price trend

The spot price of nickel was reported at 183,216.67 RMB/ton, an increase of 1.83% from the previous trading day and a year-on-year increase of 31.81%.

Analysis review

The chaotic situation in Russia and Ukraine and the disruption of transportation intensified supply concerns, and London nickel soared 4.64% overnight. The nickel inventory in London was low, and Russian nickel has shifted from Europe and the United States to China.

In the spot market, the holders shipped at a high price, and the receivers purchased on demand. The trading atmosphere was light and the transactions were poor.

The intensifying geopolitical situation in Russia and Ukraine has raised the risk of inflation and supply disruptions, boosting the price of non-ferrous commodities, while the domestic economy remains resilient, boosting market expectations.

Market outlook

It is expected that nickel prices will still fluctuate widely in the short term.

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