Long supply, nickel price shock bottom

Nickel ore, the president of Philippines once again criticized the mining industry, while the Indonesian nickel ore export quota continues to increase, the overall supply of nickel ore is still stable. As the downstream demand warmer, and the rainy season approaching Philippines, nickel ore prices will be strong willingness, nickel ore prices steadily rising. With the stainless steel plant have resumed production of nickel demand gradually pick up, nickel prices rose significantly. Demand side, stainless steel social inventories at the same period a low level, stainless steel replenishment needs still exist, the profit recovery to promote steel production rate picked up. Although the downstream demand continues to pick up, but the long-term supply of nickel ore sufficient to limit the price of nickel rose space, is expected in August nickel price remained strong shock trend, shock interval for (76000，90000).