Supported by the weak US dollar, most varieties in the London metal market fluctuated and closed higher overnight, while nickel prices continued to rise, continuing the previous day's upward trend. The three-month nickel futures in London closed at 16,070 US dollars per ton, with an intraday increase of around 0.8%.  

Due to market expectations that the Federal Reserve will cut interest rates this week, the decrease in interest rates will put pressure on the US dollar, causing the US dollar exchange rate to fall by 0.6%, hitting a two-week low; When the US dollar falls, metals denominated in US dollars become cheaper for buyers holding other currencies, supporting demand and providing support for the upward trend of base metals.

Domestically, the Shanghai nickel futures opened weakly and fluctuated in the evening session, closing down again with the support of the 125,000 RMB/ton line no longer in place. The final reported price was 124,000 RMB/ton, with a decrease of 790 RMB/ton or 0.63%.

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