1、 Trend analysis
| Bacillus thuringiensis |
According to the nickel price monitoring of the business agency, on the 12th, the spot nickel price was 111216.67 yuan / ton, down 1.97% from the previous trading day, 9.46% year-on-year and 2.21% lower than the beginning of the year. LME copper’s 3-month contract rose 1.07% to close at $6304 at the end of Asian trading. Shanghai nickel’s main market opened at 112270 yuan. After a small increase, the price rebounded and closed at 112300 yuan, up 0.15%. LME3 nickel closed at US $14155, up 1.22%.
2、 Market analysis
| povidone Iodine |
Standard & Poor’s, an international agency, raised the global nickel supply surplus to 11000 tons in 2020. Previously, domestic stainless steel prices rose sharply to drive some nickel demand, but in the short term, the overall supply of global nickel market is still surplus, and there is still pressure above the nickel price. In terms of demand, the actual terminal demand has not increased significantly, and the number of transactions has not changed significantly. Recently, due to the impact of imported cases from the Philippines, the quarantine of major ports has been strengthened. Lianyungang port, as the largest port for handling nickel ore, has been affected seriously. At present, the shipping date has not been affected, but the unloading and picking up cycle has become longer. If the epidemic continues, the quarantine will be strict and the duration will be longer, and the transportation vessels will be tense, and the shipping schedule may be delayed.
3、 Future prospects
Post market forecast: the nickel ore industry has pressure on the port, which supports the nickel price. However, the global overall supply is surplus, the actual demand of downstream has not increased significantly, and it is in the off-season of consumption. It is expected that the nickel price will fluctuate widely in the near future.
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