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Antaike: Nickel and Stainless Steel Market Analysis amid Epidemic

2020-02-21 06:40:18

Feb. 21(Antaike)-On the morning of February 21, 2020, Antaike made a report on nickel and stainless steel market analysis in the form of live broadcast. Li Shuo, a senior expert from Nickel & Cobalt Research Group of Antaike, deeply analyzed the impact of the new coronavirus on nickel and stainless steel market and looked forward to the future development trend of the market.



The report, Operation Status and Prospect of Nickel and Stainless Steel, said that the outbreak of novel coronavirus pneumonia caused many enterprises to delay their work and logistics transportation limitation, which had a great impact on nickel supply chain. It is a fact that nickel demand is not strong, and the impact of nickel cathode and NPI at the supply end is relatively small, nickel will enter the downward phase of gradual release of supply and slowing demand in the short term. At present, steel mills are facing great inventory pressure, several steel mills have jointly reduced production to cope with the decline of consumption, and Antaike predicts stainless steel output in the first quarter will drop by 4.3% year on year.



The report also said there is no need to be overly pessimistic about nickel market throughout 2020. Optimistically, we predict that stainless steel consumption may improve in the middle of the year and nickel raw materials may be in a phased short supply. We need to focus on the connection between the reduction of domestic NPI and the commissioning of Indonesian NPI projects. In general, we estimate that LME nickel prices will average at $14,000/t in 2020.





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