September 14, 2021 – Shortly before the US inflation data expected today, Tuesday, investors have exercised caution and realized profits. Nickel demand remains high.
Profit taking in Base Metals
Shortly before the publication of the U.S. inflation data and a resulting slightly higher dollar, the base metals on SHFE and LME have slightly weakened. After aluminum and nickel in particular had risen sharply in recent days, investors have become cautious and realized profits. If you look at the current curves, both metals are currently already slightly on the rise again.
And before the U.S. inflation data are not published and the expected reaction of the markets, we prefer to keep it short for today. Speculation is currently of little use here.
Nickel demand remains high
Even if the nickel prices on Monday and Tuesday for speculative reasons a slight kink, the demand for nickel products remains very high. Demand from the automotive and stainless steel manufacturing sectors is expected to increase by a total of 350,000 MT of nickel for 2021. Even though Indonesia has boosted production, it will most likely not be able to meet demand.
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.