Monthly Nickel Market Report Jan 2020
2020-02-15 12:53:18 【Print】
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1. Market Highlights
In late January, it was the Spring Festival. Affected by this, most nickel cathode consumers made purchases to refill stocks early January. While in mid-January, they mainly waited on the sidelines and stocked up cautiously. Thus, spot prices for nickel cathode weakened and transactions slowed down. On ferronickel market, due to low end demand, downstream stainless steel plants arranged purchases cautiously. However, ferronickel smelters held sufficient stocks, so they reduced prices to facilitate deals. Thus, high grade ferronickel prices fell this month.
On nickel market, most downstream ferronickel smelters took wait-and-see attitudes on nickel ore as the Spring Festival approached, so the demand was low. Meanwhile, ferronickel prices fell this month while nickel ore prices stood high. Under big pressure of cost, most ferronickel smelters mainly consumed the stocks, leading to few transactions.
On battery market, as some NCM precursor producers stopped production during the Spring Festival and have completed purchase plans by late December, the demand for battery grade nickel sulfate was low in January. Only a few orders were closed.
In late January, it was the Spring Festival. Affected by this, most nickel cathode consumers made purchases to refill stocks early January. While in mid-January, they mainly waited on the sidelines and stocked up cautiously. Thus, spot prices for nickel cathode weakened and transactions slowed down. On ferronickel market, due to low end demand, downstream stainless steel plants arranged purchases cautiously. However, ferronickel smelters held sufficient stocks, so they reduced prices to facilitate deals. Thus, high grade ferronickel prices fell this month.
On nickel market, most downstream ferronickel smelters took wait-and-see attitudes on nickel ore as the Spring Festival approached, so the demand was low. Meanwhile, ferronickel prices fell this month while nickel ore prices stood high. Under big pressure of cost, most ferronickel smelters mainly consumed the stocks, leading to few transactions.
On battery market, as some NCM precursor producers stopped production during the Spring Festival and have completed purchase plans by late December, the demand for battery grade nickel sulfate was low in January. Only a few orders were closed.
