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ME metals were on the rise, while nickel mines in both home and abroad were unchanged, and ferronickel prices were steady. 23.08.01
All three major U.S. stock indexes rose yesterday, and most futures rose as well. The Dow rose 0.28%, the S&P rose 0.15%, and the Nasdaq rose 0.21%; U.S. crude oil rose 1.46%; colored copper rose 1.86%; Lunni rose 5 US dollars to 22305 US dollars / ton, 115218 lots of positions, 3181 lots of transactions, 37536 tons of stocks; the main contract of Shanghai Nickel rose 1100 yuan to 173160 yuan / ton, 88687 lots of positions, 81576 lots of transactions, 1757 tons of stocks; stainless steel futures rose USD$30/ton, and 53,430 tons were in stock.
Nickel mines at Chinese domestic and abroad were unchanged, while LME metals rose across the board, and ferronickel prices were unchanged. The rebound trend of the US dollar index is obvious, the speculation about the purchase and storage of ferronickel has gradually subsided, and the prices of nickel and stainless steel are under pressure.
The country has implemented a policy to send new energy vehicles to the countryside because the current dominant inventory of refined nickel is still at a historically low level.
The consumption of new fuel vehicles is expected to increase dramatically. The demand for nickel in the second half of the year has been bolstered by this. However, over the medium to long term, the pressure to grow the nickel supply still exists.
The new production capacity of pure nickel and high-nickel products has increased, increasing the risk of structural excess. In the short term, the price can fluctuate rapidly, mainly in a wide range.
Overall, the current supply pressure exists. After the nickel storage storm fades, speculative demand gradually declines, and stainless steel prices are under pressure. However, the overall warm sentiment of commodities has driven the center of gravity of stainless steel futures prices, and when the off-peak season switched, some traders and downstream were more willing to purchase, and the price increase in August can be expected, paying attention to downstream demand changes and market arrival rhythm.
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