Nickel price is difficult to decline in a short term
According to the price monitoring display of business agency: since October, nickel price fell sharply, nickel price is 114562.5 Yuan / ton in the beginning of October, up to 24th October, and the nickel price dropped to 103562.5 Yuan / ton, drop range has reached 9.60% in October. Only on 16th, October, drop range of nickel price has reached 4.80%.
According to the business community monitoring data, the first half of 2014, the nickel market has a phenomenon of several months of rising prices. The reason is that Indonesia, the world's largest exporter of nickel enacted a ban on nickel exports, so that the nickel price rose 50% between January to mid May. But nickel futures prices have dropped more than 20% since the beginning of September, the spot prices also fell 20.41%. Although the Indonesian ban remains in place, the current nickel price has fallen to the lowest level since April. The main reason is the serious imbalance of supply and demand.
World Bureau of Metal Statistics (WBMS) released report shows, the global nickel supply 106900 tons of excess from January to August, 2014. And according to the data, LME nickel has a high inventory, especially in Asia. In mid October, about 100000 tons of nickel has been transported to the LME registry. LME nickel stocks have been rising for third consecutive years, this year has jumped 44%, and it has reached 377538 tons.
Due to the nickel inventories continue to increase in a short term, and the domestic funds chain is more tension, so the increasing pressure of Ni is still great. In addition, the pattern of the global excess increasing will be a big pressure on the price rise. The nickel prices will be expected to decline weakly in a short term. However, Indonesia's ban on exports will not be cancelled, which may lead to nickel supply shortage in 2015. At the same time, the steel outputs of America are on the rise, it will push up the market demand for nickel. While the Bank of French Paris is expected that the nickel market will return to supply shortage state in 2015, because when the global demand continues to expand, the production is falling. Therefore, from the long term, the price of nickel will be in uplink concussion situation.
According to the business community monitoring data, the first half of 2014, the nickel market has a phenomenon of several months of rising prices. The reason is that Indonesia, the world's largest exporter of nickel enacted a ban on nickel exports, so that the nickel price rose 50% between January to mid May. But nickel futures prices have dropped more than 20% since the beginning of September, the spot prices also fell 20.41%. Although the Indonesian ban remains in place, the current nickel price has fallen to the lowest level since April. The main reason is the serious imbalance of supply and demand.
World Bureau of Metal Statistics (WBMS) released report shows, the global nickel supply 106900 tons of excess from January to August, 2014. And according to the data, LME nickel has a high inventory, especially in Asia. In mid October, about 100000 tons of nickel has been transported to the LME registry. LME nickel stocks have been rising for third consecutive years, this year has jumped 44%, and it has reached 377538 tons.
Due to the nickel inventories continue to increase in a short term, and the domestic funds chain is more tension, so the increasing pressure of Ni is still great. In addition, the pattern of the global excess increasing will be a big pressure on the price rise. The nickel prices will be expected to decline weakly in a short term. However, Indonesia's ban on exports will not be cancelled, which may lead to nickel supply shortage in 2015. At the same time, the steel outputs of America are on the rise, it will push up the market demand for nickel. While the Bank of French Paris is expected that the nickel market will return to supply shortage state in 2015, because when the global demand continues to expand, the production is falling. Therefore, from the long term, the price of nickel will be in uplink concussion situation.
