The Jinten data report on December 14th showed that the price of nickel in the first half of 2024 rose and fell due to the support cost below it. After reaching a phased low in late July, the entire price pattern showed resistance and rebound, and the upward and downward momentum was not strong. Returning to the fundamentals, there is an oversupply, and the limited improvement in downstream consumption has limited upward space for price recovery. Overall, the price of nickel has been oscillating within a narrow range this year, with the highest Shanghai nickel reaching 160,000 and the lowest at 119,000, mainly fluctuating in the range of 120,000-140,000. Looking ahead to the next year, it is expected that the upward and downward momentum of nickel prices will not be strong, and the main contradiction still lies in the supply side. In 2025, it is expected that the price difference between products and the domestic and foreign markets will further converge, the price center of gravity will shift downward, and the price range of LME nickel is expected to be between $14,500 and $18,500 per ton, and the price range of Shanghai nickel is expected to be between 120,000 and 170,000 yuan per ton.
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安泰科: Kỳ vọng dư lượng nguyên liệu nickel toàn cầu sẽ giảm, giá nickel có thể tiếp tục giảm
The Jinten data report on December 14th showed that the price of nickel in the first half of 2024 rose and fell due to the support cost below it. After reaching a phased low in late July, the entire price pattern showed resistance and rebound, and the upward and downward momentum was not strong. Returning to the fundamentals, there is an oversupply, and the limited improvement in downstream consumption has limited upward space for price recovery. Overall, the price of nickel has been oscillating within a narrow range this year, with the highest Shanghai nickel reaching 160,000 and the lowest at 119,000, mainly fluctuating in the range of 120,000-140,000. Looking ahead to the next year, it is expected that the upward and downward momentum of nickel prices will not be strong, and the main contradiction still lies in the supply side. In 2025, it is expected that the price difference between products and the domestic and foreign markets will further converge, the price center of gravity will shift downward, and the price range of LME nickel is expected to be between $14,500 and $18,500 per ton, and the price range of Shanghai nickel is expected to be between 120,000 and 170,000 yuan per ton.