On September 1, the spot price of nickel was 150,133.33 yuan/ton, down 0.45% from the previous day, up 23.18% year-on-year, and up 17.17% from the beginning of the year. After the nickel price rose sharply yesterday, it pulled back slightly today. Nickel warehouse receipts on the Shanghai Futures Exchange rose 1,220 tons to 3735 tons. LME nickel stocks fell by 2010 tons to 192,456 tons. The overall nickel price fundamentals have not changed much. Regarding nickel ore, the price of nickel ore at home and abroad continues to run at a high level, and the overall nickel inventory receipts are at a low level. On the macro front, the loose monetary policy continued. Nickel prices are expected to remain high and fluctuate mainly in the short term.
