1、 Trend analysis
| povidone Iodine |
According to the nickel price monitoring of the business agency, the nickel price rose slightly on the 14th. The spot nickel price was 132750 yuan / ton, up 1.84% compared with the previous trading day, 16.72% higher than the beginning of the year, and 19.49% higher than the same period last year. Shanghai nickel opened at 128700 yuan, and the price rose smoothly after the opening, closing at 130930 yuan, up 1.30%. LME3 nickel closed at $17600, up 1.53%.
2、 Market analysis
In the rainy season, the Philippines is in short supply of nickel ore, the inventory of refined nickel is declining and the demand for battery grade nickel is improving. In addition, the demand for stainless steel has been stable since this year, and the market performance is weak outside and strong inside. In November 2020, the domestic electrolytic nickel production was 12167 tons, a month on month decrease of 1.72%, and a year-on-year decrease of 8.33%. In November, the operating rate of domestic electrolytic nickel smelting was 70.33%, slightly lower than that of 71.56% of the previous month. At present, the production and operation of refineries in production will maintain normal state, and the short-term output may not be further expanded due to the influence of demand off-season at the end of the year.
Future forecast: nickel price is expected to be strong in the near future.
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