Due to concerns about the trade war, the London metal market fell across the board again last weekend, with nickel prices showing a weaker trend and expanding downward momentum. The three-month nickel futures in London closed at 15,440 US dollars per ton, with the intraday decline widening to around 2.5%. At the same time, the discount of LME spot nickel to three-month contracts fell sharply to 174 US dollars per ton, the lowest level in nine months, compared to last week's discount of 220 US dollars per ton. Analysts are concerned about this, and it is currently unclear, but tariffs may be cumulative. Afterwards, the related metal tariffs may be very high, so many metals will be affected as a result.

Domestically, the Shanghai nickel futures opened low and fell again in the evening session, with the support of the line of 126,000 RMB/ton temporarily no longer in place. The final offer was 125,150 RMB/ton, a decrease of 1,940 RMB/ton or 1.53%.

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