Big Bag Packing System
On the macro front, the global PMI maintained the downward trend. Although the US non-farm payrolls data exceeded expectations, there is a delay in the transmission of economic data to the labor market, the job vacancy rate remains high, the inversion of US Treasury yields deepened, and recession expectations remain strong.
Industry, pure nickel supply continues to recover, but the demand support is obviously weak, the spot price is expected to operate mainly weak; In terms of nickel ore, the willingness of the mine to ship has decreased significantly, and the purchase of iron plants has continued to weaken. It is expected that the price of ore will continue to fall under the double weakness of supply and demand. In terms of nickel-iron, the expectation of oversupply relief exists after, the future transaction is expected to be limited under the terminal weakness, and the price has room to move further. Stainless steel, steel mills continue to reduce production, transaction to just demand orders, it is expected that short-term consumption is difficult to improve.
Big Bag Packing System
In general, the nickel industry chain continues to be weak, the terminal weakness leads to negative feedback continues, with interest rate expected to strengthen, Shanghai nickel or will be under pressure to run, stainless steel plate has picked up in the near future, you can consider the opportunity to sell high. Shanghai Nickel 2209 reference range 160,000-175,000 yuan/ton. The reference range of SS2209 is 15,500-16,500 yuan/ton.
Big Bag Packing System
Operationally, nickel and stainless steel light bins are short.
