Views: 0 Author: Site Editor Publish Time: 2022-03-15 Origin: Site
Rare in history!
On March 7, London nickel saw an epic rise, and the LME nickel price rose nearly 30% in the afternoon that day. After entering the active stage of night trading, the increase further expanded, and achieved a 72.67% increase on the day, closing at $50,300 per ton.
Until March 8, the upward trend has not stopped, breaking through the 60,000, 70,000, 80,000, 90,000, and 100,000 US dollars in a row, hitting a record high of 101,365 US dollars per ton during the session.
The "epic" market of LME (London Metal Exchange) nickel futures has attracted widespread attention, and the LME decided to suspend the trading of nickel futures on March 8.
As of now, LME nickel futures have been suspended for 5 trading days. The latest news is that LME nickel will resume trading at 8:00 London time on March 16 (16:00 Beijing time on March 16).
In addition, Tsingshan Industrial issued an important statement in the early morning of March 15, saying that Tsingshan Group had reached a silent agreement with a syndicate of futures bank creditors.
Some futures researchers believe that the LME restarts the trading of nickel futures, indicating that the LME believes that the risks have basically been resolved. The current nickel price is at a high level, and it is expected that the probability of subsequent decline will be high.
LME nickel futures are about to resume trading after a five-day suspension.
The latest announcement issued by the LME states:
1. The LME nickel contract will resume trading at 8:00 on March 16, London time (16:00 on March 16, Beijing time).
2. The LME has set a price limit applicable to all base metals: the maximum daily price range for other base metal contracts will be plus or minus 15% from the closing price of the contract on the previous trading day, while nickel is at least plus or minus 5% and It will continue to be reviewed and adjusted according to market conditions. The price limit system will be implemented from the 15th, and the price limit of nickel will be implemented from the resumption of trading.
3. Postponing the delivery time of all nickel contracts signed before March 16 (Wednesday) to March 23 (ie, should be delivered between March 16 and March 22).
Nickel is an important industrial metal and is widely used in the steel industry, machinery industry, construction industry and chemical industry. In 2018, stainless steel was the number one primary application of primary nickel, contributing about 65% of primary nickel consumption. In addition, nickel is also an important raw material for the cathode material of lithium batteries. The "one element" of "ternary lithium battery" refers to nickel.
How will the nickel price go in the future, let us pay attention to it after March 16!
