The Trump administration has announced tariffs on steel and aluminum imports, and the premium of US prices relative to London metals has widened, continuing to boost the overnight London metal market. Most varieties have fluctuated and strengthened, while nickel prices are currently weak and continue to decline against the trend, expanding the intraday decline. The three-month nickel futures in London closed at 15,515 US dollars per ton, with the intraday decline widening to around 1.5%.

Overall, although the reopening of the domestic market after the Chinese New Year has played a certain role in driving the trend of the London market, and there is still room for negotiation on tariffs between China and the United States, the short-term measures of the US and Canada to impose tariffs continue, and uncertainty still exists. In the near future, price trends are still being viewed with caution.

On the domestic front, the night trading of Shanghai nickel futures opened high and fell low, with fluctuations and setbacks, and the line support of 126,000 RMB/ton is no longer available. The final offer was 125,120 RMB/ton, a decrease of 1,860 RMB/ton or 1.46%.

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