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What are the varieties related to the trend of spot nickel?
The trend of nickel is not affected by other spot categories, but is mainly affected by the following two factors:

I. Supply and demand factors

The price of nickel is mainly determined by the relationship between supply and demand. On the supply side, in the past two decades, the supply of refined nickel has generally increased with the increase of demand, and there has been no obvious shortage or oversupply, so it is currently playing a role in stabilizing the price of nickel. On the demand side, nickel is mainly used for stainless steel.

manufacture

So the demand for stainless steel has a very obvious impact on it. Overall, the output of stainless steel will increase by 1% and the price of nickel will increase by 4.707%. When the demand for stainless steel increases, the demand for nickel will also increase, leading to an increase in the price of nickel. But once this increase is too large, it will greatly increase the cost of steel enterprises, thus inhibiting the production of stainless steel. Therefore, this factor will not lead to large fluctuations in nickel prices in the short term.

Second, the impact of LME spot market

LME spot market plays a guiding role in price. Although supply and demand factors affect the long-term price of nickel in the long run, LME market is greatly influenced by investment and speculation factors due to its own characteristics, which is especially obvious for the short-term price change of nickel. In the spot market center of Everpot, you can pay attention to the details of the weekly changes in the LME spot market. Among them, LME nickel inventory report is worthy of attention. Overall, LME inventory will increase by 1%, and nickel price will decrease by 0. 129%.