Recently, the sharp fluctuation of nickel price has aroused the attention of all parties. In this regard, our reporter interviewed the relevant person in charge of China Nonferrous Metals Industry Association.
reporter: from March 7 to 8, the price of LME nickel futures rose irrationally. On March 7, the closing price of LME nickel futures in March reached US $50300 / ton. On March 8, the highest intraday price of LME nickel futures in March rose to a record US $101365 / ton. On the afternoon of March 8, LME announced that all nickel transactions on that day were invalid, suspended nickel transactions, and decided not to resume before March 11. What’s your opinion on this matter
answer: China Nonferrous Metals Industry Association is highly concerned about this. We believe that the current nickel price has seriously deviated from the fundamentals, lost the guiding significance of the spot price, deviated from the original intention of serving the real economy, and caused serious harm to the global nickel and upstream and downstream related industries.
reporter: at present, downstream enterprises have reduced production and stopped receiving orders, and the spot trade is close to stagnation. Enterprises are very anxious. How to treat this problem
answer: nickel is the key raw material for the production of stainless steel and new energy batteries. Chinese nickel products not only meet China’s needs, but also some products have entered the global supply chain and become an important part of the global supply chain security. The Chinese market is stable and the global market is stable. We believe that the Chinese government attaches great importance to the safety of nickel industry chain. In fact, when the price of non-ferrous metals soared and affected the safety of the industrial chain last year, the relevant government departments took measures to release and store copper, aluminum and zinc in a targeted manner, which has achieved good results.
reporter: under the current environment, how to ensure the stability of the global nickel industry chain? How to view the nickel investment of Chinese enterprises in Indonesia in recent years
answer: nickel is a kind of nickel with high dependence on foreign countries. The government and nonferrous metals industry associations encourage enterprises to “go global” and develop resources for the benefit of the world. In 2021, Indonesia will become the world’s largest nickel producer, which is the result of the combination of Chinese technology, capital and Indonesian resources and a win-win result. China and Indonesia highly recognize this and it is also obvious to all in the world. The nickel investment of Chinese enterprises in Indonesia has brought benefits to the two peoples and made important contributions to regional and global prosperity and stability.
reporter: at present, the price of bulk commodities fluctuates greatly. How can the non-ferrous metal industry do a good job in ensuring supply and stabilizing price
answer: Nonferrous Metals Association will closely follow the operation situation of the industry, timely report to relevant departments, study and put forward suggestions, warn enterprises of risks and publicize and implement the spirit of policy documents in accordance with the work requirements of the CPC Central Committee and the state Council on ensuring the supply and price stability of bulk commodities. Non ferrous industry enterprises should consciously implement the Convention on self discipline of China’s non ferrous metal industry, strengthen industry self-discipline, stabilize market expectations, maintain market price order, prevent malicious speculation and irrational sharp rise in the price of non-ferrous metal products, and make every effort to ensure the stable and healthy operation of China’s large cycle through the organic integration of China’s international double cycle.
