Nickel prices fell sharply by 2.94% on September 3

According to the nickel price monitoring of the business community, the spot price of nickel on September 3 was 107131.25 yuan/ton, down 2.94% from the previous day and up 15.13% year-on-year.

Nickel prices have always been swaying with new energy demand and performing well. Although the trade war has been in full swing, nickel prices have been dominated by high prices. Today, it suddenly fell sharply. On the one hand, Trump expects the news of the increase of tariffs to continue to ferment. In the morning, the blacks drastically dragged down the overall market sentiment. On the other hand, the Ministry of Industry and Information Technology Development Center released 30 car companies to be stopped. At least one year after the production of new energy vehicles, the news came out, the market was in vain, and the news that the country stopped new energy vehicles was undoubtedly like a thunderstorm, which caused the nickel market to be shocked. The expected demand for nickel was greatly reduced, and the nickel price fell below the previous low.

Market outlook: The trade war and the Fed rate hike are still uncertain. The expectations of new energy vehicles for nickel demand have fallen short. Fortunately, in September, the demand for downstream stainless steel may increase, and nickel is supported. It is expected that nickel prices will be weak in the short term.

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