建信期货镍日报-20250528

Group 1: General Information - Report Date: May 28, 2025 [2] - Report Type: Nickel Daily Report [1] - Research Team: Nonferrous Metals Research Team [3] - Researchers: Yu Feifei, Zhang Ping, Peng Jinglin [3] Group 2: Market Review and Operational Suggestions - Nickel Price Movement: On the 27th, nickel prices continued to trade in a narrow range. The main contract 2506 hit a low of 122,000, a half - month low, and closed at 122,170, down 0.55%. The total open interest of the index increased by 7,419 to 176,178 lots [9] - Spot Premium: The spot premium remained generally stable. The Jinchuan premium was 2,200 yuan/ton, and the Russian nickel premium was 250 yuan/ton [9] - Nickel Ore: The premium of Indonesian nickel ore this week remained stable at $26 - 28 per wet ton. The decline of the new round of Indonesian domestic trade nickel ore HPM was slight, and the current negotiation premium was still strong. It is expected that the price of Indonesian ore will be prone to rise and difficult to fall [9] - LME Inventory: LME nickel inventory increased by 1,362 tons on the 27th, with the main increase of 1,482 tons coming from the Busan warehouse. The increase in inventory put downward pressure on prices [9] - Battery - grade Nickel Sulfate: The average price of battery - grade nickel sulfate remained flat at 28,015 yuan. Next week is a traditional procurement node. With the expected improvement in market demand in June and cost support, nickel salt prices are expected to rise [9] - Overall Outlook: Recently, the prices of nickel - related products in the industrial chain have weakened slightly but with limited room. Nickel prices continued to consolidate. In addition, the subsequent supplementary quota of RKAB is expected to start the approval process in June, and there are still concerns. Wait for low - buying opportunities [9] Group 3: Industry News - Indonesian Domestic Trade Ore Benchmark Price: SMM expects the Indonesian domestic trade ore HPM to remain stable with a slight decline in the first half of June, down 0.06% from the previous period. The HMA in the first half of June is $15,405 per ton, down $10 per ton. The HPM prices of different - grade nickel ores are expected to decline slightly compared with the second half of May. SMM expects the premium in June to be difficult to rise and may remain stable at the May level [10][11] - Battery Energy Storage Projects: - Bulgaria officially launched the largest - scale operating battery energy storage system in the EU, with a capacity of 124 MW/496.2 MWh [11] - Renewable energy storage company Apatura has obtained planning permission for a 100 - MW battery energy storage system project in Scotland, increasing its approved total energy storage capacity to over 1.6 GW [11][12] - Solar Cell Innovation: A research team in Turkey developed a TOPCon solar cell using nickel (Ni) contact with almost no silver (Ag), significantly reducing silver usage while maintaining high efficiency [11]