长江有色：美联储降息与流动性释放镍价修复反弹 18日镍价或小涨

Group 1 - Nickel futures market shows a positive trend with LME nickel closing at $14,365 per ton, up $110, or 0.77%, and SHFE nickel main contract closing at 113,300 CNY per ton, up 0.51% [1][2] - The global liquidity environment is improving due to the Federal Reserve's interest rate cuts, which is expected to support basic metal prices, particularly for copper and tin, as well as core metals in the new energy industry [2] - The nickel market is transitioning from an "oversupply" scenario to a "rebalancing" phase, with signs of a turning point emerging as supply constraints and demand highlights are becoming more evident [2][3] Group 2 - Major companies are adopting clear strategies: Huayou Cobalt and GEM are leveraging low-cost MHP projects in Indonesia to strengthen their position in the new energy materials supply chain; Qingshan Holding is focusing on industry chain integration and exploring battery material transformation; Jinchuan Group is maintaining competitiveness through technological upgrades and partnerships [3] - The nickel industry is moving from a phase of scale expansion to one focused on cost control and industry chain integration [3] - The current market dynamics indicate that nickel prices may experience a slight increase due to improved macroeconomic sentiment [3]