镍矿RKAB审批量大幅缩减 沪镍期货延续强势走势

Group 1 - The domestic futures market for non-ferrous metals showed mixed performance, with nickel futures experiencing a strong upward trend, reaching a peak of 123,490.00 CNY/ton, marking a 3.64% increase [1] - The outlook for nickel prices is positive, driven by expectations of cost increases and a recovery from previous lows, although there are concerns about potential quota reductions impacting the market [2] - Nickel ore prices are stabilizing due to regulatory actions against illegal mining in Indonesia and seasonal weather impacts in the Philippines, which may affect production [3] Group 2 - The reduction in nickel ore approvals in Indonesia is expected to limit the release of primary nickel production by 2026, while taxation on semi-finished cobalt will increase production costs [2] - Despite the positive sentiment in the market, there are concerns regarding the overall demand, particularly in the stainless steel sector, which is facing pressure from downstream nickel-iron producers [3] - The current market is characterized by an oversupply of primary nickel, with inventory levels remaining relatively high, indicating a cautious outlook for future consumption [3]