lightningrouletteevolution| Nickel prices fluctuate and strengthen expectations: tight supply in Indonesia and support from demand for new energy vehicles

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Nickel ore supply is tightlightningrouletteevolution, Shanghai nickel futures are expected to strengthen in the short term

Indonesia's RKAB approval process has not improved significantly, and nickel ore supply continues to be tight. At the same time, the resumption of production of domestic ferronickel plants and the stability of stainless steel operating rates have eased the tight supply of ferronickel, but prices have not changed significantly. The increase in downstream demand for nickel sulfate, coupled with demand expectations in the new energy vehicle market, has led to a rebound in nickel sulfate prices. It is expected that Shanghai nickel futures prices will fluctuate and strengthen in the short term as the Federal Reserve strengthens interest rate cuts, reduces the oversupply of pure nickel, and continues to tighten the supply of nickel sulfate and nickel ore.

The trend of nickel inventories remains rising, but as the market increases expectations for the Federal Reserve to cut interest rates and the improvement of the excess of pure nickel, the market generally expects that Shanghai nickel futures will fluctuate and strengthen in the short term. In addition, the tight supply of nickel sulfate and nickel ore has also provided support for nickel prices, which may lead to an increase in Shanghai nickel futures prices.