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Ni week review: nickel or ended higher after initially falling next week ( 5. 09 - 5. 13)

by:Deyuan      2020-12-25
Conclusion: this cycle of nickel trading center of gravity down, Aaron nickel trading range is 8575 - $9030 / ton, Shanghai jinchuan nickel spot market clinch a deal the interval is 67600 - 69500 yuan/ton. Expects the next cycle of nickel ended higher after initially falling as Aaron main trading range or nickel - in 8350 $8850 / ton. Nickel market review

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

this cycle nickel to fall Monday Aaron nickel dropped $390 / ton to 8640 dollars/tons, on Tuesday, Wednesday, small rebound, fell again on Thursday, will be swallowed by gains in the first two trading days, as of Friday afternoon trading near $8650 / ton, weeks a peak of $9030 / ton. Nickel weeks Shanghai trading range 1609 contracts in 67750 - 72080 yuan/ton.
this week Shanghai jinchuan nickel spot market trading range is 67600 - 69500 yuan/ton, the Russian nickel trading range is 67000 - 69000 yuan/ton. Friday jinchuan nickel plate factory price down to 68000 yuan/ton, weeks lowered 2500 yuan/ton.
economic data released this week in line with expectations, did not cause too big impact to the market. Authorities on Monday to the People's Daily published an interview with the start in the first quarter asked trend. Authorities pointed out that must adhere to implement a proactive fiscal policy and prudent monetary policy, adding don't have to use leverage to push hard to economic growth. Speculation that the policy measures or for the future for a period of time set the tone, in the first quarter of huge credit expansion or over.

2, nickel prices trend forecast next week
the People's Daily quoted authorities view, monetary policy or predict the next period of time to fine tune, this means huge credit expansion in the first quarter, the situation will be over, is the safety economy back on the path, to increase leverage, to promote the traditional industry investment dependence decline. This also means that in the first quarter since the foundation of domestic commodity futures rebound sharply one less. However, considering the previous metal prices have made deep callback, again because of the factors continue to plunge is unlikely.
ni middle level of supply and demand. Manufacturer of metal prices rebounded sharply in the first quarter, management improvement, production enthusiasm increased, perform harder after the manufacturer's production joint venture agreement. Demand side, with more on infrastructure projects and real estate market recovery of investment expansion, metals demand is expected to rebound slightly. Overall, the advantages of short or medium term supply and demand both sides difficult landslide.
the fed to raise interest rates and the market level. From the recent series data with official statements, such as the United States employment market expectations for the fed to raise interest rates in June, which is expected factors will not to nickel prices. Futures market, the average system of nickel price forming pressing, but below the $8500 / ton for the early stage of the volume concentration areas, or an effective support. Nickel comprehensive, next week is expected to rebound after fall first, mainly trading range or - in 8350 $8850 / ton.
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