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中长期市场过剩格局持续施压 镍价向上空间或有限
Jin Tou Wang·2025-06-30 08:48

Group 1 - The current spot price of electrolytic nickel in Shanghai is 122,250.00 CNY/ton, with a premium of 1,420.00 CNY/ton over the futures main price of 120,830.00 CNY/ton as of June 30 [1] - The national nickel price overview on June 30 shows various market prices for 1 nickel (Ni9990) ranging from 122,300 CNY/ton to 124,300 CNY/ton across different locations in Shanghai and Guangdong [2] - On June 30, the Shanghai Futures Exchange's main nickel futures contract closed at 120,830.00 CNY/ton, with a slight increase of 0.17%, and trading volume reached 86,158 contracts [2] Group 2 - As of June 30, the London Metal Exchange (LME) reported nickel registered warrants at 192,996 tons and cancelled warrants at 11,010 tons, with total nickel inventory at 204,006 tons, a decrease of 288 tons [3] - The Shanghai Futures Exchange recorded a nickel futures warehouse receipt of 21,221 tons, a decrease of 36 tons from the previous trading day, with a cumulative reduction of 257 tons over the past week, representing a 1.2% decrease [3] - The analysis indicates that the nickel market is experiencing a medium to long-term oversupply, with traditional demand in a seasonal decline, although current inventory levels do not show significant increases [4]