With the development of markets such as power tools, electric two-wheelers, and smart home devices, the small power battery market is experiencing rapid growth. Demand side, after the power tool industry underwent inventory reduction from 2022 to 2023, the industry chain inventory is expected to gradually return to reasonable levels starting in 2024, with current demand being relatively strong. Supply side, according to SMM data, the production of consumer battery cells in 2024 is expected to reach 77GWh, with ternary consumer battery cells accounting for 57%.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Oct 29, 2024

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Oct 28, 2024

Recently, the nickel market has experienced significant fluctuations, with nickel prices showing noticeable intraday declines. Market attention to the price trends of high-grade NPI and refined nickel has increased, especially as the price discount between high-grade NPI and refined nickel continues to narrow. Since last week, nickel prices have fallen significantly. Today, SHFE nickel once fell below the 126,000 yuan/mt mark, while LME nickel rebounded slightly after hitting a low of $16,300/mt, currently fluctuating between $16,300 and $16,500/mt.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Oct 25, 2024