1、 Trend analysis

According to the nickel price monitoring of the business community, on June 22, the nickel price rose slightly, with the spot price of 131566.67 yuan / ton, up 0.64% from the previous day, 2.68% from the beginning of the year, and 28.05% from the same period last year.

The weaker US dollar boosted nonferrous metals, which rebounded at a low level overnight and ended up 1.69%. With the end of the rainy season in the Philippines, nickel supply may gradually recover. However, due to the high sea freight and the epidemic prevention policy that ships from Southeast Asia need to sail for 28 days in the near future, the price of nickel still remains high. At present, the supply is still in short supply, which has a certain support for nickel price. The inventory of downstream 300 series stainless steel continues to be depleted, the apparent demand is not bad, and the spot is still in short supply. It is expected to maintain high production scheduling in June. However, stainless steel has gradually entered the off-season, the demand is expected to fall, and the fundamentals are weakened. It is expected that the short-term nickel price will have limited room for further rise.