SunSirs: Both Supply and Demand are Weak, Nickel Prices in the Chinese Market Fluctuate within a Narrow Range

　　On December 14, the spot nickel price dropped slightly, quoting 145,616.67 yuan/ton, a slight decrease of 0.31%% from the previous trading day, an increase of 13.64% from the beginning of the year, and a year-on-year increase of 9.69%.

　　The production of high nickel matte in Indonesia has a certain impact on market sentiment. However, the continuous decline of nickel stocks in London has repeatedly hit new lows, and there are still concerns about the decline in global nickel supply. Towards the end of the year’s low domestic consumption season, domestic ternary cathode material companies for the escalation of epidemic protection have ceased production, and demand for new energy has weakened. In the case of weak supply and demand, it is expected that the short-term fluctuations of nickel will be the main trend.