Price trend

According to the nickel price monitoring of SunSirs, on the 24th, the average price of nickel in the spot market was 193,633.33 RMB/ton, up 2.53% from the previous trading day and up 28.19% year on year.

Analysis review

US stocks soared and the US dollar fell, while London nickel futures fell 0.05% overnight. Vale wanted to separate copper nickel business, and the demand prospects for copper and nickel were strong. Since electric vehicles, charging stations and other renewable energy infrastructure all need these base metals, new energy and stainless steel drive up the price of nickel. Ferronickel has the double support of cost and demand, but Indonesia Liqin RKEF4 production line has been put into production, and the supply and demand have increased.

Market outlook

In the case of double increase in supply and demand, it is expected that nickel prices will continue to fluctuate widely.

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