1、 Trend analysis

According to the nickel price monitoring of the business society, the nickel price soared on the 7th, and the spot price was reported as 211166.67 yuan / ton, up 10.45% from the previous trading day and 71.4% year-on-year. Shanghai nickel 2204 contract closed the daily limit, closing at 210950 yuan / ton, up 12%.

Macroscopically, it is mainly due to the continuation of the geographical influence of Russia and Ukraine, and the market is also constantly considering the impact of supply side disturbance under Western sanctions on Russian trade. Basically, on the supply side, the geography of Russia and Ukraine, whether in Europe or domestic nickel supply, has brought some uncertainty. In addition, the Philippines has entered the rainy season, the impact of nickel ore price climbing has begun to appear, and the refinery production scheduling plan is not large. On the demand side, the rapid rise of prices reduces the enthusiasm of short-term downstream procurement and weakens the transaction. However, when the supply problem is difficult to solve in the short term, the downstream may show passive procurement. The sales performance of new energy vehicles is still bright, and the prospect of power battery demand is optimistic. Nickel prices are expected to rise in the short term.