1、 Trend analysis

According to the nickel price monitoring of the business community, on the 10th, the average price of nickel in the spot market was 185983.33 yuan/ton, down 2.71% from the previous trading day and up 29.39% year on year.

The rising interest rate increase helped the US dollar, and Rennie closed 1.45% lower the next week. The expectation of the Federal Reserve’s aggressive interest rate increase is approaching step by step, which makes investors worry that the global economy is in recession. Influenced by macro sentiment, the nickel market is under pressure, the inventory of Lunni is rebounding, and refined nickel is largely replaced by nickel intermediates. Poor market demand will lead to excess nickel supply. The fundamentals of nickel supply and demand did not change much during the holiday, and the overall situation was dominated by macro changes. The domestic pre festival replenishment has reduced the low level of nickel and stainless steel stocks. After the festival, we will pay attention to the willingness of downstream customers to take more goods. Ferronickel import supply is loose, and domestic inventory is at a relatively high level. With regard to the future market, nickel demand is driven by new energy batteries, and the improvement of downstream stainless steel demand depends on the promotion of Baojiao Building. In October, nickel and stainless steel are expected to show a weak pattern of shock.