Yangtze non-ferrous metal network
The nickel futures market: the united states refers to a fall in market risk preference to warm, with an increase of 0. 37 per cent in the overnight price of nickel; the new lonnie collection of $17795 per ton, an increase of $65, an increase of 0. 37 per cent, a trade of 5801 hands, a domestic market, and the latest receipt of $13,4450 per ton of night drive nickel, an increase of $340 or 0. 25 per cent。
The london metal exchange (lme) reported 274152 tons of nickel inventory on 11 june, a decrease of 558 tons from the previous day。
The yangtze nickel industry: today, nickel futures are open at a low level; the main monthly contract, 2607, is released at a low rate of $630 per ton, 9. 15 cent nickel at a low rate of $134450 per ton compared to the previous collection; the main nickel, 2607 is reported at a high rate of $340 per ton; and the macro level: 12 june, the international and domestic heavy-heavy news is released. At the international level, when the ecb landed for the first time in three years, in the united states in may, the ppi rose by more than three years; the us president announced the cancellation of the strike on iran, with rapid geo-risk cooling causing a sharp drop in crude oil, and a massive backlash between us equity and us debt. Domestic growth policies are expected to be sustained. The united states dollar was stifled by a retreat from the shock and the united states share was at risk inclined to fully repair the whole line. During the night, the weakening of the outer disk metal was driven by the weakening of the united states dollar and the upturn in the market mood, and the price of nickel plus the cost of the feedstock end supported by a synchronized recovery。
The nickel industry chain is becoming more fragmented
The structural segmentation of the feedstock end highlights the attitude of the indonesian mining sector to easing production quotas when prices are favourable, which has given rise to widespread debate in the market over the elasticity of supply in the long term and has been a central destabilizing factor in the recent nickel raw materials market. The current pattern of off-the-shelf nickel ore is becoming more fragmented, demand and supply for high-grade ore are tight, bargaining power is strong and water lifting is strong, and the pressure on the supply of medium- and low-grade ore is accentuated, with continued weakness. The supply of nickel in the philippines has been steadily released and the overall price trend has been weak。
By sub-group, the global quality resources of the sulphide nickel mine are scarce and long-term new production capacity is weak; the release of high ice nickel capacity is slower than anticipated in the pre-market period; nickel hydroxide cobalt is subject to high upstream ancillary prices, the cost of hydromechanical smelting is high, some of the production lines enter the overhaul cycle, and the supply supply is marginally shrinking; and recycled nickel is constrained by supply bottlenecks in scrap steel and production growth has stalled. The downstream nickel sulphate market is synchronously divided, with rollbacks driving down the cost of nickel-based raw materials, but the cost support of the auxiliary end is still strong and the combined cost of the enterprise is not significantly relaxed。
For weekends, the price of nickel is strong
On the weekend of 12 june, the international macro level focused on the interest rate signals released by the statements of federal reserve officials, as well as the follow-up development of indonesia's mining policy. In combination, the short-term weakening of the dollar and the decomposition of the geo-situation constitute the macro-lido base, where the cost line of nickel salt is supported by high prices for ancillary materials, but high stocks and low-season demand still constrain the upper spaces. It is expected that the price of nickel in the day will maintain a concussion bias with a focus of $133,000-135,000/tonne in the volatile zone, with operational advice to move slowly and be alert to the risk of windfalls on weekends。
(note: this is an original analysis, for reference purposes only, and does not constitute an investment recommendation. Data support: yangtze non-ferrous metal network www. Cccmn. Cn telephone: 0592-5668838)
