1、 Trend analysis

According to nickel price monitoring of business association, nickel price continued to drop slightly on the 8th, with spot nickel price of 125800 yuan / ton, down 0.49% from 126416.67 yuan / ton on the previous trading day, down 1.82% from the beginning of the year, and up 32.93% year on year.

2、 Market analysis

In April, although the rainy season in the Philippines is coming to an end, the overall ship delivery is still limited to some extent. At the same time, the production scheduling of downstream stainless steel plants has increased, and the terminal demand is likely to continue to increase. The precursor enterprises purchase nickel beans to prepare nickel sulfate with rich profits, and the new energy terminal consumption enters the peak season. At the same time, the domestic nickel port inventory continued to decline, nickel prices under the strong support. However, Indonesia’s ban on mining and the trial production of high matte nickel from ferronickel will have a long-term impact on the nickel market. Nickel price is expected to maintain strong volatility in the short term.