1、 Trend analysis
According to the nickel price monitoring of the business association, on March 25, the nickel price fell slightly, and the spot nickel price was 92416.67 yuan / ton, down 0.66% from the previous day, down 10.48% year on year. Shanghai nickel opened at 93500 yuan, then fell in price shocks, closing at 91890 yuan, up 0.22%.
2、 Market analysis
Due to the impact of the epidemic, prevention and control in the Philippines has been upgraded. As the main source of nickel ore import in China, the expectation of the reduction of nickel output and supply in the Philippines has raised market concerns about the support of nickel price. The downstream just needs to purchase. At present, the terminal consumption is still weak, but the downstream stainless steel price is relatively strong. On the macro level, the hope that the US will launch a $2 trillion economic assistance plan will ease investors’ concerns about the available supply, most metals rebounded overnight, and the price of nickel rose sharply after the overnight opening.
3、 Future prospects
Future market forecast: nickel price is greatly affected by macro factors, and now supply and demand are weak, while nickel price is still weak in short term.