Group 1 - The domestic futures market for non-ferrous metals showed a strong performance, with nickel futures prices rising to 142,570.00 yuan/ton, an increase of 4.45% [1] Group 2 - On the supply side, domestic nickel iron prices have increased to approximately 958 yuan/nickel point, with iron mills experiencing reduced losses and some regions returning to profitability, while overall production remains low [2] - Demand analysis indicates that the cost of nickel iron for stainless steel has decreased, improving steel mill profits and leading to expectations of high production levels; the production and sales of new energy vehicles continue to rise, contributing a slight increase in demand from ternary batteries [2] - As of January 9, 2026, nickel ore inventory at 14 ports in China decreased by 122,600 wet tons to 13,197,700 wet tons, reflecting a decline of 0.92% [2] Group 3 - The outlook for nickel indicates a mix of weak fundamentals and strong expectations, with no tightening of supply at the mining level; although prices at the smelting end are strengthening, demand is currently in a low season, and uncertainties in policy remain, leading to a slight recovery in nickel prices driven by improved market sentiment [2]
基本面弱现实与强预期交织 沪镍期货表现比较强
Jin Tou Wang·2026-01-12 07:06