CITIC Futures: Nickel prices are remaining high; monitor industry chain feedback and implementation status

Nickel’s current fundamentals do not show any obvious marginal improvement, and overall supply and demand remain relatively loose. Global visible inventories stay at relatively high levels, exerting some pressure on prices. It is necessary to observe the strength of peak season demand realization. Meanwhile, the adjustment of nickel ore pricing methods has been implemented beyond expectations, and the overall support for the cost side of the nickel industry chain exceeds previous market expectations. We believe that nickel prices will generally fluctuate with a slight upward bias, and we will continue to monitor the progress of relevant policies in Indonesia. (CITIC Futures)

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