SunSirs: China’s Nickel Prices Fell Slightly on August 9

　　On the 09th, the price of nickel dropped slightly. The spot price of nickel was 141766.67 yuan/ton, down 2.76% from the previous trading day, up 10.64% from the beginning of the year, and up 23.6% year-on-year.

　　On the macro front, strong non-agricultural data stimulated the US dollar index to soar during the intraday session, closing up 0.55%, putting greater pressure on the metal market, and metals falling across the board. In terms of supply, the supply of nickel ore in the Philippines has recently recovered, and the tight supply situation has eased slightly. In the downstream, stainless steel spot purchases are relatively light, the market is slightly cautious, and stainless steel inventories have rebounded, making stainless steel prices still highly uncertain.