CCmn Shanghai nickel trend: Shanghai nickel futures fell slightly after noon todayshowmearoulettewheelThe main monthly 2406 contract for Shanghai nickel futures opened at 151510 yuan/ton, with an intraday high of 153840 yuan/ton, a lowest price of 150530 yuan/ton, and closed at 152780 yuan/ton, down 440, down 0showmearoulettewheel.29%, Shanghai nickel's main monthly 2406 main contract volume was 170966 lots.
According to statistics from the Yangtze River Nonferrous Metals Network: On May 24, ccmn Yangtze River Comprehensive No. 1 nickel price was 151,250 - 153,850 tons, with the average price reported at 152550 yuan/ton, down 200 yuan. Yangtze River Spot No. 1 nickel price was 156,100 - 157,300 yuan/ton, with the average price reported at 156700 yuan/ton, up 550. Guangdong spot nickel price was 151,850 - 153,250 yuan/ton, and the average price reported at 152550 yuan/ton, down 200 yuan.
ccmn nickel market analysis: On the macro level, the minutes of the Federal Reserve meeting were hawkish, and the US dollar index rebounded strongly. Subsequently, the United States announced that corporate activity accelerated in May to the highest level in more than two years, implying that economic growth rebounded halfway through the second quarter, pushing the US dollar index to record a daily record. Four consecutive gains, futures market bulls took profits and left the market. Shanghai nickel futures opened lower and fluctuated within a narrow range and then rebounded slightly. On the supply side, conflicts occurred in New Caledonia for several days this month. Nickel processing plants were operating at minimum production capacity, and most nickel mines were suspended. In addition, with cost support, the price of ferronickel is operating on the strong side. After nickel experienced weakness driven by macro negatives, the inquiry activity in the spot market increased at low points, indicating that the market's willingness to buy has rebounded. Towards the weekend, increased enthusiasm for spot trading helped push nickel prices to rebound. In terms of operating strategies, choose appropriate opportunities to do long on the bargain. Nickel prices are expected to fluctuate within a narrow range and then weaken in the short term. This view is for reference only and does not provide guidance for trading (Changjiang Nonferrous Metals Network www.ccmn.cn)