The Current Conditions Of Nickel Price

- Sep 17, 2018 -

                                                                                                                                                  ——From Hongwang 


Recently, the volatility of nickel price has become a hot topic in stainless steel field. In the previous stage, it has continued to weaken, creating a new low condition in the stage and forming a plunge in the short term. However, under the promotion of Sino-US trade easing, the nickel has alsoappeared revival in the short-term. After rising by 400 US dollars on Wednesday, Nickel rushed to 12,780 points yesterday, approaching the 13,000 mark. However it fell back in the end, and finally closed down slightly.

 

Under the continued influence of Sino-US trade, short-term commodities are still operating at a strong level, but while prices are strengthening, nickel still has many negative factors.

 

At the same time, 304D may affect nickel demand. The recently hot 304D has almost swept the entire stainless steel industry chain, and everyone is closely watching such a new product. But the ingredients of 304D is closer to the 200 series. Its nickel content is only 2.8%, which is far lower than that of the eight nickels. Therefore, the demand for nickel will be inhibited in the future.

 

In general, the recent Sino-US trade easing has formed a certain boost to market confidence, and the overall rebound of bulk commodities, the short-term trend of the nickel has also shown a sharp rise, but it should be noted that there are many negative factors from the current fundamentals of nickel and prices still have the risk of falling.


Contact: Una Chen

WuXi XiChu Stainless Steel Co.,Ltd

Mobile:+86-18961715099

Mailbox:xc01@xichustainless.com

Add: B2-135,Stainless Steel Market, No.82 North XueDian Road

         City Wuxi, JiangSu, 214000,China


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