Due to the boost from China's economic stimulus measures, the London metal market closed higher overnight, and nickel prices broke free from the downward trend and rose again.

On Tuesday, the People's Bank of China announced the largest stimulus measures since the 2020 pandemic to support economic growth. However, some analysts believe that further stimulus measures were needed in the coming weeks to bring China's economic growth back to this year's target of around 5.0%. London three-month nickel rose again with the trend, with an intraday increase of around 0.9%, and finally closed at 16,695 US dollars per ton.

Domestically, the night market Shanghai nickel futures fluctuated at a high level and continued to climb, breaking free from the short-term moving average pressure. The final reported price was 127,480 yuan/ton, with an increase of 1,670 yuan/ton or 1.33%.

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