On January 19, the spot price of nickel was 166,683.33 yuan / ton, down 0.34% from the previous trading day and up 21.09% year-on-year.
The rise in U.S. bonds pushed the dollar to a six-day high, while the London nickel fell and closed down 0.25%. The ferronickel production line in Indonesia is officially put into operation, and the pre-holiday stocking is coming to an end. According to reports, three power towers supplying power to the Tagaung Taung Nickel Processing Plant in Sagaing Province, Myanmar were blown up, and the production of the plant was suspended. The main product is FeNi with a nickel content of 33%, with an annual production capacity of 85,000 physical tons. At present, the fundamental support is still strong, the supply is short, and the global refined nickel inventory continues to fall, maintaining a historical low, supporting the strong operation of nickel prices. It is expected that the short-term high and volatile trend of nickel prices is the main trend.
