ShouChuang Futures: Nickel prices rebound supported by cost factors

Amid market panic, nickel prices briefly fell below 130k last night, with a decline approaching 3%, but then quickly rebounded, rising above 130k and essentially recovering the previous day’s decline. Today, nickel prices showed wide fluctuations, briefly rebounding above 135k with an increase of over 2%, but then quickly falling back. Currently, overall nickel prices are relatively weak, possibly due to poor demand, but the tightening supply of Indonesian nickel ore also provides strong cost support below. At present, nickel prices are still operating between 130,000 and 140k, with macroeconomic factors having a relatively limited impact on nickel prices. (First Capital Futures)

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