Qingshan High matte Nickel supply Market Shanghai Nickel fell by the limit in intraday trading [Agency Review]

According to market news, on January 24th, the first batch of high matte products from Morowali Park in Qingshan, Indonesia were officially shipped back to China. At present, there are three high matte production lines in the park, with a monthly nickel production capacity of about 3000 tons. Aoyama in Indonesia said it plans to build a number of high matte production lines in the future.

Qingshan high ice nickel supply market is expected to increase the supply of nickel metal, affected by this, the electric nickel futures market bulls forced short funds to leave, Shanghai nickel hit the intraday limit, 02 contract significantly reduced positions, electricity nickel plunged led stainless steel to fall to around 17000 yuan / ton.

On the spot side, at present, the spot market enters the holiday mode, the market trading is rare, the spot has a weak containment effect on futures before and after the holiday, and the futures follow the fluctuation of capital mood.

The Spring Festival is approaching and downstream enterprises are gradually entering the holiday. Follow-up on the holiday arrangements of metal enterprises [SMM]

In terms of supply and demand, the high matte nickel supply market in Castle Peak can not solve the shortage of H1 nickel resources. with the return of new energy and stainless steel spot demand after the festival, low inventory and continued destocking expectations are still the main contradictions in the market.

Therefore, it is expected that after the short-term long funds ebb, the nickel price will return to the high shock mode, and the high Back structure and bargain-seeking layout of bulls are still the main logic of the market.

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