Nickel prices decline may expand on the 23rd
The British epidemic was in a panic situation. Nickel opened lower and closed down 3.69% overnight. Nickel prices continued to fall due to macro factors. The production of ferronickel plants suffered losses and the supply side was imbalanced. Today, nickel may expand its decline.
Nickel futures: The UK epidemic is in a panic situation, the market’s risk aversion is fermenting, and Lun Nickel opened lower overnight; Lun Nickel’s latest closing price was reported at US$16,710, down US$640 or 3.69% from the previous trading day, with 10170 lots traded. Compared with the previous trading day, it decreased by 1733 hands and held positions of 232,810, which was an increase of 1291 hands from the previous trading day. In the evening, Shanghai nickel fluctuated and fell. Shanghai nickel's main month 2103 contract fell. The latest closing price was 124160, down 4540, or 3.53%.
The London Metal Exchange (LME) on the 22nd reported 2,45064 metric tons of nickel stocks, a decrease of 102 metric tons from the previous trading day.
Today, Shanghai nickel futures opened lower. The opening price of the main month 2102 contract 126300 fell 2400, and the main Shanghai nickel contract 2102 fell 3960 to 124740 at 9:30. Today, Shanghai nickel is operating at a low level after the opening, and the trend is weak; the overseas epidemic situation is severe. Nickel is under pressure, and nickel prices continue to fall due to macro factors. Ferronickel plants are losing production. Domestic ferronickel plants stop or switch production, and the supply side is imbalanced. Now nickel may expand its decline.
