Effect of the Continued Warming of Sino-US Trade War on Nickel Price of Power Battery Raw Material

The overnight nickel plate opened at $15,005/ton. At the beginning of the day, nickel was fluctuating around the daily average. At noon, the focus is on the $15022/ton sideways. In the afternoon, the US dollar oscillated higher, and the Sino-US trade war escalated. The nickel was under pressure and vented, and gradually moved away from the daily average, with a bottom of $14,580/ton. Supported by the 60-day moving average below, then the center of gravity fluctuated within a narrow range of $14,655/ton. After the US dollar hit the 95 mark in the evening, the volatility fell back. The center of gravity of the nickel moved up slightly, fluctuating around the daily average of 14,725 US dollars / ton, closing at 14720 US dollars / ton, the volume increased by 8260 hands to 12759 hands, the position decreased by 2740 hands To 268,000 hands, stocks fell 54 tons to 275,658 tons.

The overnight nickel 1809 opened at 112,580 yuan/ton. In the evening, after the US dollar hit the 95 passes, the shock fell back. At the beginning of the day, Shanghai nickel rose slightly. Afterwards, due to the influence of the overall macro profit and the strong trend of the US dollar, Shanghai nickel operated weakly, fluctuating up and down the daily average and supporting the lower sixty daily average. At 113,010 yuan per ton, the turnover decreased by 209,000 hands to 325,000 hands, and the holding capacity increased by 16228 hands to 345,000 hands.

The trade tension between China and the United States continued to heat up overnight, but the US dollar was boosted by US interest rate hike expectations and US economic data, and it rose strongly, hitting an 11-month high. Affected by the growing Sino-US trade war, the strengthening of the US dollar, and concerns about China's demand expectations, the basic metals trend is sluggish and bleak. Nickel prices in the outer disk continued to pull back. However, domestic and international stocks continued to decline, and the domestic import window continued to close, or to some extent support the depth of callback. It is expected that today's nickel center of gravity will continue to move downwards. The main contract of Shanghai nickel is 1809 running interval of 111500~113300 yuan/ton, and the spot price is 112500~114500 yuan/ton.

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