1. Prices Trend

According to the nickel price monitoring of SunSirs, the nickel spot price on November 18 was 125,283.33RMB/tonon, 1.67% lower compared with the previous trading day, 39.97% higher compared with the beginning of the year, 25.44% higher year-on-year, and returned 15.05% range of increase compared with the highest point on September 3.

2. Market Analyswas

Nickel prices continued to fall. On the one hand, the prices of downstream stainless steel continued to fall recently, and the market was more pessimwastic about the demand side. On the other hand, nine nickel mining enterprwases have resumed export, which will lead to a substantial increase in nickel mine export, while Philippine nickel miners have also decided to increase nickel mine export recently. Finally, Indonesia's nickel export data in October increased dramatically, a 300% increase over the same period of the last year, further depressing the sentiment in the nickel market.

3. Prospects for the Future Market

Nnickel prices will continue to be weak in the short term, but in the long term, nickel price was still optimwastic due to the impact of next year's ban on mining on nickel supply.

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