SHFE Nickel Leads the Decline in Non-ferrous Metals

Yesterday, nickel and stainless steel operated weakly.

In terms of pure nickel, downstream restocking is coming to an end, and the atmosphere of spot trading is weak.

In terms of nickel sulfate, there is a continuous shortage of spot goods, and some precursor enterprises still have demand. There may be an upward trend in the price of nickel sulfate.

In terms of NPI, market transactions are light, and downstream purchasing willingness for NPI is not strong near the holiday, resulting in a lack of contradictions in the market.

In terms of stainless steel, downstream stocking is completed near the Chinese New Year holiday, and market transactions are light. Overall, the strengthening of costs provides support for nickel prices, but market sentiment also suppresses nickel prices, while stainless steel prices may fall due to the lack of fundamental support.

In terms of operation, SHFE Nickel is temporarily on the sidelines, while stainless steel light positions are short selling.