On the nickel side, the Shanghai nickel shock weakened. Guoxin Futures analysts said today that the Ministry of Industry and Information Technology released a public consultation on the “New Energy vehicle Industry Development Plan (2021-2035)” (consultation draft). According to the draft, new energy vehicles account for about 25% of new vehicle sales by 2025, and the structural gap caused by battery nickel in the future is still to be expected. Recently, the market has focused on the EU’s complaint against Indonesia by the WTO. Against the background of the current local nickel and iron new production capacity construction progress exceeding expectations, if the nickel mine resumes exports next year, it may cause a huge supply glut, thus suppressing nickel prices. In addition, most of Indonesia’s mines have resumed exports at present. Under the stimulus of high profits, exports in December are expected to exceed the record again. However, at present, some domestic Nife enterprises have entered a state of loss, supporting the lower space.
My mistake, sorry
Interesting that the cancelled warrants total is moving up again.
LME data week from December 2 to 6
Live Warrants started the week at 42.570 (62.35%) and ended at 35.946 (52.18%), Cancelled Warrants started the week at 25.710 ( 37.65%) and ended at 32.940 (47.82%)
Opening Stocks are now at 68.886 + 606 this week