The macro performance is mixed. Although the prospect of the end of the Russia-Ukraine conflict is generally a good thing, the turbulent situation surrounding Trump's tariff will offset this good. In addition, the strengthening of the US dollar has also put pressure on metals, as it makes commodities priced in US dollars more expensive for buyers using other currencies. This has led to mixed market trends in the London metal market over the weekend, with nickel prices not guaranteed to rise and experiencing a slight decline. The final closing price for three-month nickel in London was $15495 per ton, a drop of around 1.1% during trading. At present, macro uncertainty still exists, and the market seems to maintain a wait-and-see attitude.

On the domestic front, the night market of Shanghai nickel futures consolidated at a low level and fell again, with resistance from the 125,000 RMB/ton line above. The final reported price was 124,850 RMB/ton, a decrease of 570 RMB/ton or 0.45%.

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