stainless steel daily news of February 18, 2022

On February 18.,2022, nickel prices rise sharply.And then close at 11:30.The main NI2203 contract reported 178,190 CNY/TON, up 5030 CNY/TON, up 2.90%; IXLENID3M reported at $ 24,065 / TON, up 0.56%.while the general trend of stainless steel continue to weaken.And the main SS03 contract was reported at 18,810 CNY/TON, down 275 CNY/TON, down 1.44%.Market professionals believe that the sharp rise in nickel prices of today was mainly due to factors such as low global nickel inventories as well as the uncertainty of the international situation and overseas epidemics impact. 

On February 17, the LME nickel inventory was 83,736 tons, of which 43,008 tons of warehouse receipts were cancelled, accounting for 51.36%.After January, it exceeded 50% again. On the spot market of today, due to the high nickel price, downstream and traders are more cautious, and the market trading atmosphere is deserted