1、 Trend analysis

According to the nickel price monitoring of the business society, the nickel price rose sharply this week. As of January 14, the spot nickel price was 166533.33 yuan / ton, up 5.72% from 157516.67 yuan / ton at the beginning of the week, up 23.79% 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 and fell by 6. Recently, nickel prices still fluctuated strongly.

Nickel industry chain

Supply and demand: high energy costs have led to refinery production reduction, and the global nickel inventory has been maintained. The severe weather in the rainy season in the Philippines caused a sharp decline in nickel ore imports, tight market supply and a boost in nickel prices. On the one hand, the production of stainless steel decreased from January to February; On the other hand, there is a strong demand for nickel sulfate in the field of electric vehicles. Ternary precursor enterprises begin to prepare goods before the Spring Festival, and the demand for nickel sulfate increases.

To sum up: the global epidemic is severe and the downstream transactions turn weak, but the LME inventory decreases sharply, the supply is tight and the demand for new energy is strong, which promotes the strong trend of nickel price. It is expected that the short-term shock of nickel is mainly strong.