Affected by the strong US dollar and concerns about Chinese demand, the London metal market fell across the board again overnight, and nickel prices have not changed their recent downward trend. The three-month nickel futures in London closed at 15,520 US dollars per ton, with a intraday decline of around 1.2%.

The strengthening of the US dollar has brought pressure, and metals priced in US dollars have become more expensive for buyers holding other currencies, thereby suppressing demand. Commodity trading advisors (CTAs) track the relationship between metal prices and the US dollar based on mathematical models and have been selling base metals recently. In addition, due to the possibility of tariffs imposed by the United States, the demand outlook for China, the top metal consuming country, continues to be a concern.

On the domestic front, the night market of Shanghai nickel futures showed a weak downward trend and continued to decline, losing the first line of 125,000 RMB/ton. The final closing price was 124,250 RMB/ton, a decrease of 1,510 RMB/ton or 1.20%.

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