20250624-国泰期货-镍_远端镍矿端预期松动_冶炼端限制上方弹性_不锈钢_供需边际双弱_钢价低位震荡_3页_598kb

Nickel Summary

• Far end nickel ore demand expected to ease, reducing pressure.
• Smelting operations have limited upside potential due to constraints.
• Key events: Canada considering stopping nickel exports to US; Indonesia CNI nickel iron project entering trial production; environmental issues leading to potential fines in IMIP.

Stainless Steel Summary

• Supply and demand both weakening on the margins.
• Steel prices are low and experiencing volatility.
• Plant maintenance: Indonesia cold rolling plant scheduled for 6-7 month shutdown, affecting production.

Trend Strength

• Nickel: 0 (Neutral)
• Stainless Steel: 0 (Neutral)