1、 Trend analysis

According to the nickel price monitoring of the business society, the nickel price fell first and then rose this week. As of May 13, the spot nickel price was 217500 yuan / ton, down 1.44% from 220683.33 yuan / ton at the beginning of the week and up 66.2% year-on-year.

Nickel weekly rise and fall chart

According to the weekly rise and fall chart of business society, in the past 12 weeks, nickel prices rose by 8 and fell by 4, and the recent trend of nickel prices was mainly weak.

Nickel industry chain

LME nickel inventory

As the nickel price in March and April was in an irrational state divorced from supply and demand for a long time, the downstream enterprises suffered serious losses and the consumption of refined nickel fell sharply. In April, the consumption of refined nickel in the new energy sector fell 68% compared with the beginning of the year. At present, the irrational price has no support from supply and demand, and the nickel price will eventually return to supply and demand in the later stage. However, at present, the upstream and downstream of refined nickel are in a low inventory state. With the continuous release of Indonesia’s output, the sales pressure of downstream stainless steel and the shutdown of steel plants in May, the downstream cost pressure gradually transmitted to the upstream, and the NPI price began to weaken in exchange for the cost pressure of steel plants, which still put a certain pressure on the nickel price. It is expected that the overall nickel price will continue to oscillate in a wide range.