1、 Trend analysis
| Azodicarbonamide (AC foaming Agent) |
According to the monitoring of nickel prices by the Business Society, nickel prices have fallen this week. As of June 25th, the spot nickel quotation was 174250 yuan/ton, a decrease of 0.48% compared to the beginning of the week and a year-on-year decrease of 7.71%.
Nickel weekly rise and fall chart
According to the weekly rise and fall chart of Business Society, nickel prices have risen by 7 and fallen by 5 in the past 12 weeks, with a slight decline in recent times.
Nickel industry chain
LME nickel inventory
On the macro level, the US suspended interest rate hikes as scheduled in June, and although hawkish signals were released that there may still be two more rate hikes, the market seems not very satisfied with this. The probability of next month’s rate hike is not yet firmly predicted, and domestic economic stabilization policies have also arrived as expected, providing protection for the recovery. Overall, macro sentiment has rebounded.
| povidone Iodine |
In terms of supply: In June, domestic nickel electrowinning continued to increase in volume, with new pure nickel production lines being put into operation as scheduled and refined nickel production increasing slightly. Indonesian nickel production capacity continued to surge, and nickel iron reflux continued to increase, impacting the domestic market. Adequate supply still brought pressure on nickel prices, while Russian nickel supply increased and premiums continued to decrease.
In terms of demand: The overall demand for pure nickel is stable, with differentiated performance in the terminal field. The production of stainless steel reached a new high in May, and the production schedule remained basically unchanged in June; The order of ternary precursor recovered, and the price of Nickel(II) sulfate stabilized and rose; Alloy and electroplating companies maintain an attitude of buying at low prices and not buying at high prices.
In summary, the macro economy has rebounded, supply continues to increase, demand is average, and overall nickel inventory is at a low level. There has been a slight rebound in the near future, and it is expected that nickel prices will mainly fluctuate weakly in the short term.
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