建信期货镍日报-20250709

Group 1: Report Information - Report Name: Nickel Daily Report [1] - Date: July 9, 2025 [2] - Research Team: Nonferrous Metals Research Team [3] - Researchers: Yu Feifei, Zhang Ping, Peng Jinglin [3] Group 2: Investment Rating - No investment rating information provided Group 3: Core View - The macro atmosphere has turned weak, and uncertainty has increased, leading to a decline in risk appetite. On the 8th, Shanghai nickel continued to be weak in the non - ferrous sector under the pressure of fundamental surplus, temporarily stabilizing above 120,000. The nickel industry chain shows weak performance in all links. Be cautious about the rebound space, reduce long positions on rallies, and adopt a rolling operation strategy [8] Group 4: Market Review and Operation Suggestions - Macro and Market Conditions: The macro atmosphere is weak, and risk appetite has declined. Shanghai nickel is weak in the non - ferrous sector under fundamental surplus pressure [8] - Supply - Side Conditions: Since the end of June, the support from the ore end has weakened, and the price of Indonesian domestic red clay nickel ore has loosened. The high - nickel iron price continued to fall, with the average price on the 8th dropping by 2.5 to 905 yuan/nickel point. Nickel iron plants' losses have intensified, and some have cut production. The steel mills are sluggish, with reduced production schedules and high inventories, and can only maintain the rigid demand for raw materials [8] - Sulfuric Acid Nickel Situation: Sulfuric acid nickel remained flat at 27,410. The recent rise in LME nickel prices has increased the immediate production cost of nickel salt plants. Some nickel salt plants have stopped production for maintenance due to losses, and some are holding up prices. The short - term price of sulfuric acid nickel is expected to remain stable [8] - Operation Suggestions: Be cautious about the rebound space of nickel, reduce long positions on rallies, and adopt a rolling operation strategy [8] Group 5: Industry News - Bulgaria officially launched the largest - scale operating battery energy storage system in the EU, with a capacity of 124 megawatts/496.2 megawatt - hours, located in the Balkan Industrial Park in the north - central city of Lovech [9] - A research team from Turkey's Odtu - Gunam Institute and Necmettin Erbakan University developed a TOPCon solar cell using nickel (Ni) contacts and almost no silver (Ag), with silver usage below 0.5 mg/watt, far lower than traditional silver - contact cells [11] - Renewable energy storage company Apatura obtained planning permission for a 100 - megawatt battery energy storage system (BESS) project near Kilwinning, North Ayrshire, Scotland [11]