Newsletter summary

Overnight nickel and stainless steel prices rose sharply, Shanghai nickel broke through the 150000 yuan mark. The decline in US CPI and poor retail sales data have boosted the Fed's expectations of interest rate cuts, supporting nickel prices. The political turmoil in New Caledonia has affected exports to China.HybridpokerThe supply of ferronickel and nickel ore is limited, but the actual supply impact is expected to be limited. Stainless steel social inventory increased slightly, sales pressure is greater, market sentiment is cautious. Operation strategy, it is recommended to wait and see for the time being, ni2406 reference range 144000-154000 yuan / ton, ss2409 reference range 13500-14500 yuan / ton. oneHybridpoker. Fed official Williams believes that inflationary pressures are easing and there is no need to tighten monetary policy at present. Inflation is expected to be in a low range of 2 per cent by the end of this year and about 2 per cent next year. two。 Initial jobless claims in the US fell 10, 000 to 222000 in the week to May 11, slightly higher than expected. For the week ended May 4HybridpokerThe number of continued applicants rose to 1.794 million. 3. London Metal Exchange (LME) nickel stocks stood at 80466 tonnes as of May 16, down 528 tonnes from the previous trading day. 4. On May 16th, the average price of SMM high nickel pig iron was 970 yuan / nickel point, which was 1.50 yuan / nickel point higher than that of the previous trading day.

Text of news flash

[the strong nickel market leads to a strong wait-and-see mood in the stainless steel market] the overnight nickel price rose sharply, and the Shanghai nickel price rebounded strongly to 150.Hybridpoker, 000 yuan / ton high. At the macro level, the decline in US CPI and poor retail data have strengthened market expectations of Fed interest rate cuts and provided strong support for nickel prices. At the same time, riots broke out in New Caledonia, considering that China's imports of ferronickel and nickel ore accounted for 1.79% and 7.07%, respectively, and the market was concerned about its potential impact on supply, although SMM sources said the actual impact on supply was limited. In the stainless steel market, social inventories have increased slightly this week, reflecting the continued pressure on the sales side. Market participants were cautious and procurement activities were delayed. In terms of operational strategy, investors are advised to wait and see on the nickel and stainless steel market. The price reference range of futures contract ni2406 is 144000-154000 yuan / ton, while the price reference range of ss2409 is 13500-14500 yuan / ton. In terms of relevant market information, Federal Reserve official Williams revealed that inflationary pressure tends to ease and there is no need to rush to tighten monetary policy. Inflation is expected to remain low at 2 per cent at the end of the year and about 2 per cent next year, and there is no need to wait for inflation to reach exactly 2 per cent before adjusting. In addition, in terms of jobless benefits data, initial jobless claims in the US fell by 10, 000 to 222000 in the week to May 11, slightly higher than expected, while continued claims rose to 1.794 million. In terms of nickel stocks, LME nickel stocks were at 80466 tons on May 16, down 528 tons from the previous day. At the same time, the average price of SMM high nickel pig iron was 970 yuan / nickel point on May 16th, which was 1.5 yuan / nickel point higher than that of the previous trading day. While paying attention to the market dynamics, investors should pay attention to carefully assess the risks and formulate investment strategies cautiously.