Summary Summary: This week, the nickel rebounded and then rebounded, and the inventory increased to above 204,000 tons, setting a record high. The ex-factory price of Jinchuan nickel was adjusted from RMB 100,000/ton to RMB 98,000/ton, and the spot nickel price in the market fell by RMB 1,300/ton. It is expected that the macro level news will still bring certain price to nickel price...
Summary: After the first week LME nickel fell rebound, stocks increased to above 204,000 tons, a record high refresh. The ex-factory price of Jinchuan nickel was adjusted from RMB 100,000/ton to RMB 98,000/ton, and the spot nickel price in the market fell by RMB 1,300/ton. It is expected that the macro level news will still provide some support for nickel prices, and will be traded at $13,600-14,500/ton next week. I. Analysis and prediction of the trend of nickel
1. Review of the trend of nickel
Most of the time last week, it fluctuated within the range of $13,500-14,000/ton, and the closing on Thursday was basically the same as last Friday. On Monday and Tuesday, the nickel-plated electronic disk continued its decline in the second half of last week, with the lowest drop to $13,460/ton. On Wednesday and Thursday, nickel prices rebounded to a high of $14060/ton, and then Friday afternoon, at $14,000/ton. Inventories increased again this week to over 204,000 tons.
In the news, China's official manufacturing PMI data improved, HSBC data was not worse than expected; US economic data continued to improve, but the Fed raised the overall economic assessment at the interest rate meeting. The news was clearly bullish in the metal market. After the announcement of these news, metals such as copper and copper were clearly stronger, and the nickel was also significantly higher in late trading Wednesday to Thursday. However, the inventory continued to increase substantially, and the market worried that the nickel supply level is still rising, which led to the upside of the nickel.
2. Lun nickel trend forecast
In July, China’s official manufacturing data was positive, indicating that the production activities of medium and large-scale manufacturing enterprises are still in a state of expansion, suggesting that the market’s concerns about the slowdown of China’s economic growth have been too suspicion, and thus for the current metal market, from the Chinese side. The news should be positive. The metal market will gradually shift its focus to the US non-agricultural data in July. From the published ADP employment data and the data on the initial jobless claims in previous weeks, the US non-agricultural employment population may continue to increase substantially in July. Or beyond the market's average expectations, it will bring an optimistic atmosphere to the metal market from the real economy. In addition, based on this week's Fed has just lowered the economic assessment considerations, it is expected that the Fed's speculation to adjust QE will bring limited panic to the market. Next week, the nickel price may be stronger, or trading at 13600-14500 USD/ton.
Second, the domestic nickel market
1. Electrolytic nickel market
The Jinchuan Group adjusted the ex-factory price of electrolytic nickel five times in a row. Except for the increase on Thursday, the rest of the time was lowered. Compared with the ex-factory price on Friday, it was reduced by 2,000 yuan/ton to 98,000 yuan/ton. On Friday, the Shanghai market Jinchuan Nickel reported 98,300-98,500 yuan / ton, the Russian nickel reported 97,200-97,400 yuan / ton, down about 1,300 yuan / ton from last Friday. On Thursday, Friday and Monday and Tuesday, nickel prices continued to fall, and nickel plate traders’ confidence was frustrated and pessimistic about the market outlook. Late Wednesday and early Thursday, Lun Nickel rebounded from the low level and sharply rose, boosting the confidence of traders. Shanghai spot nickel market was active on Thursday morning, both buyers and sellers entered the market positively, and the transaction volume increased significantly. In the rest of the time, the stalemate between buyers and sellers is more obvious, the transaction price is difficult to achieve, and the overall transaction volume is limited.
The overall price of ferronickel has remained stable, and the supply of high-grade iron is still relatively tight. It is difficult for downstream steel mills to purchase. It is reported that due to procurement difficulties, Lianzhong Steel has once again raised the latest high-nickel iron inquiry price to 960 yuan / nickel (to the factory including tax), up 10 yuan / nickel compared with the previous round of purchase price.
The main price of nickel-based pig iron in the range of 6-8% is 920-930 yuan/nickel, and the average price is 925 yuan/nickel. The content of 4-6% nickel-based pig iron is 920-940 yuan/nickel, and the average price is 930 yuan/nickel. The mainstream ex-factory price of 1.5-2.0% low-nickel pig iron is 2450-2500 yuan/ton, and the mainstream price of high-nickel pig iron is 10-15%/nickel. Although the price has risen from the previous period, it is still lower than market expectations. The reluctance to sell is strong, but the recent market has shown signs of stabilization and recovery. Some ferronickel manufacturers plan to resume production. With the launch of some large RKEF technologies, high-nickel iron production capacity will be Released, it is expected that the situation of tight supply in the market will be eased.
3. Domestic nickel ore market
The Ceiling Fan Light is beautiful in appearance, equipped with durable fan blades and lighting of different colors and styles, and has functions such as lighting, cooling, and decoration.There are much more Led Ceiling Fan styles in our website,such as DC Ceiling Fan ,Iron ceiling fan,Wooden Blades Ceiling Fan With Bulbs,Retractable Ceiling Fan Light,Simple Ceiling Fan Lamp,and best decoration Plywood Led Ceiling Fan.And there are more items are not showing on the website,please feel free to contact us directly for more information.
Big Ceiling Fan,Large Ceiling Fan,Ceiling Fans With Remote Control,Large Industrial LED Ceiling Fan,Industrial Ceiling Fan Light
JIANGMEN ESCLIGHTING TECHNOLOGY LIMITED , https://www.jmesclightingfan.com