Group 1 - The domestic futures market for non-ferrous metals is experiencing a downward trend, with nickel futures showing a decline of 1.75% as of the latest trading session [1] - The Shanghai nickel futures opened at 115,250.00 CNY/ton and fluctuated between a high of 115,580.00 CNY and a low of 113,980.00 CNY, indicating weak market performance [1] - Analysts suggest that the fundamentals for refined nickel remain weak, with social inventory continuing to accumulate, leading to expectations of a prolonged low-price environment [1] Group 2 - The Federal Reserve's hawkish comments have dampened expectations for interest rate cuts in December, impacting the overall market sentiment for non-ferrous metals [2] - There is limited trading activity in the nickel market, with high costs squeezing upstream profits and leading to a decline in the price of nickel sulfate as demand weakens [2] - Despite Indonesia's pause on nickel smelting project permits, the global nickel supply-demand balance remains oversupplied, with high inventory levels and stable demand [2]
基本面缺乏改善 镍价预计短期维持低位区间震荡
Jin Tou Wang·2025-11-21 08:03