Due to the pressure brought by high inventory on the exchange, but the decline in the US dollar also provided some support, so various varieties in the London metal market fluctuated overnight. The short-term upward trend of three-month nickel futures in London continued, and the intraday upward trend continued to expand, with an increase of about 1.5%, and finally closed at 16,915 US dollars per ton.

With a significant increase in the shipment of some metal inventories to warehouses in Asia, LME inventories continued to rise. At the same time, the market was also concerned that miners' production may not be able to keep up with demand growth, attracting speculative funds to enter the market for long positions; However, the US dollar exchange rate has fallen to a seven month low, providing support for the metal trend, and the short-term nickel price market is relatively stable.

Domestically, the Shanghai nickel futures in the evening session were consolidating at a high level and closed slightly positive, but the main contract was suppressed by the 40 day moving average. The final price was 130,380 RMB/ton, with an increase of 470 RMB/ton or 0.36%.

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