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Ni week review: next week Aaron nickel to maintain the overall strength, 4. 11 - 4. 15)

by:Deyuan      2020-12-25
Conclusion: nickel rallied this cycle, east China market spot near jinchuan nickel rose to 70000 yuan/ton, jinchuan ex-factory price increase 3000 yuan/ton. Next week is expected to nickel prices continue the overall strength, main trading range or Aaron nickel - in 8750 $9450 / ton. Nickel market review

figure 1: the LME three-month nickel market day K line

nickel prices sharply rebounded this week, Aaron nickel most soared to $9000 / ton, on Tuesday rose $330 / ton, up 3. 87%, as of Friday afternoon, Aaron nickel from Friday this week up 300 dollars/tons.
this week Shanghai nickel main contract trading range is 68000-1609 71940 yuan/ton, Shanghai jinchuan nickel spot market clinch a deal the interval is 67700 - 70500 yuan/ton, the Russian nickel is 67100 - 69700 yuan/ton, Friday jinchuan electrolysis nickel board ex-factory price to 69700 yuan/ton, from Friday to raise 3000 yuan/ton.
China's economy rebounded in March is the main cause of metal prices this week. Recently announced a series of data show that China's economy in the bottom of the signs, to a certain extent to improve the industrial metals demand outlook, boosted, including nickel metal prices. The continued weakness of the dollar index and crude oil and other commodity prices rebound, also provides support for nickel prices trend.
in addition, the stories about the collection and storage also boosted prices. The first and the second half of the market rumors, the store will be stockpiled separately to nickel reserves of 30000 tons, total 60000.
2, nickel prices trend forecast next week, according to data from the
6 China in the first quarter GDP growth. 7%, in line with market expectations. From the fixed asset investment and industrial production, as well as electricity consumption, etc. Series published data before see, China's economy showed signs of periodic bottoming, short-term economic periodic U type, W type may be present.
march credit data back to a strong, economic recovery is expected to last for a period of time. Have seen sharp rises in January and February of a sharp contraction, new lending surged again in March, China social financing scale up to 2. 34 trillion yuan, far more than previously expected.
half the world's primary nickel consumption in China, the Chinese economy improving nickel help boost demand. Expect the next period of time, China will continue to provide support for nickel prices.
about the collection and storage, from the experience in recent years, the state reserve bureau will when necessary, to nickel and other metal collection and storage, but the purchase quantity and time, will not release, the end result is difficult to get official recognition. Look from the nickel market environment, however, about 60% of the world in the operational capacity of losing money, there is possibility.
after this week's rise, nickel technology graphics look somewhat overbought signs, there is need to correct, but the middle technical indicators to improve, will continue the overall strength, large probability is expected next week's main ranges from 8750 - nickel $9450 / ton.
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