According to the nickel price monitoring of the business community, the spot price of nickel on September 25 was 109,375 yuan / ton, up 1.17% from the previous day and up 28.43% year-on-year.

Nickel prices have recently risen better. On the one hand, China’s infrastructure projects have expanded, and key projects in Xinjiang’s new construction focus on water conservancy, transportation, energy, industry and people’s livelihood construction, which will benefit basic metals. On the other hand, the demand for high-nickel batteries for new energy vehicles is growing at a high rate, nickel ore is scarce, and the possibility of future increases is high. The continued decline in LME and inventory in the previous period has supported nickel prices. In addition, during the peak season of consumption in September and October, nickel demand is expected to improve and nickel prices are rising.

The market outlook: Before the trade war was exhausted, the recent interest rate hike program of the Fed, the arrival of the peak season, nickel demand or better, is expected to be strong in the short-term shock of nickel prices.