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Ni week review: next week to high and volatile prices or ( 7. 04 - 7. 08)

by:Deyuan      2020-12-23
Conclusion: this week's high nickel rushed up, Aaron nickel - in 9525 10410 dollars/tons of high and volatile, Shanghai jinchuan nickel clinch a deal the interval in 75500 - the spot market 78600 yuan/ton. Next week's nickel shock consolidation, the main trading range in 9350 - $10150 / ton. Nickel market review

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

this week, nickel prices soared, wide range to high. Monday Aaron nickel most soared to $10410 / ton, record the last 20 months, followed by lack of copycat buying, turn to shocks, as of Friday afternoon weeks nickel trading range is 9525 - $10410 / ton, price range is $885 / tons.
this week Shanghai nickel contract trading range is 75120-1609 83490 yuan/ton. Shanghai jinchuan nickel spot market clinch a deal the interval is 75500 - Submitted to the 75500-78600 yuan/ton, Friday 75800 yuan/ton, from Friday rose 2000 yuan/ton. Jinchuan ex-factory price of 74200 yuan/ton to 75200 yuan/ton, weeks up to 78600 yuan/ton.
the mining policy strictly, or have a significant impact on nickel supply, is the main factor supported nickel prices this week, a macro level factors and the surrounding market volatility will weigh on prices.
2, nickel prices trend forecast next week
the Philippines nickel ore supply may reduce was the focus of attention is recent, unrestrained mining for a long time, the parts of the production of high grade nickel ore which can; Also had a bad influence on environment and society, stir up the local popular discontent, Philippine authorities will introduce more measures to limit the nickel ore mining. The factor is expected to provide continuous support for the second half of the nickel prices.
however, if the prices higher than the cost of cash for a long time, will stimulate other parts of the producers to increase supplies. From the demand side, the global economy faces more uncertainty factors, nickel is expected surge in demand is difficult to happen. The level of supply and demand factors will provide modest support for the second half of the nickel prices.
the next week, macro data and events is more important. On Friday night to non-farm, better than expected, if the data is expected to market will continue to speculation that the fed will not raise interest rates; If data significantly worse than expected, will provoke regression market risk aversion, weigh on prices. Market has not fully response Britain withdrew the influence, the euro zone began to face the Italian banking problems. Chinese economic operation data will be announced in June, in the reform of heavy backdrop, is expected to rebound limited.
graphics technology point of view, after rising early, and after this week's wild swings, various indicators need to be further revised, is expected next week nickel more likely to continue to high and volatile, and major trading range or - in 9350 $10150 / ton.
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