Despite the current poor performance of domestic data and the rising market risk aversion, the vast majority of London metal market varieties were dragged down and closed down in a volatile manner last weekend. However, nickel prices stood out and rose against the trend, continuing the previous upward trend. The three-month nickel futures in London closed at 16,420 US dollars per ton, with an intraday increase of around 0.80%.

Last Friday, data from the General Administration of Customs showed that China's import volume unexpectedly shrank in the first two months of this year, export growth slowed down, and China's trade surplus with the United States expanded, intensifying concerns about future trade conflicts and leading to a decline in most metal prices.

Domestically, the Shanghai nickel futures opened lower and rose higher in the evening session, oscillating and rising, breaking through the 130,000 RMB/ton mark during trading. The final price was 132,370 RMB/ton, with an increase of 2,070 RMB/ton or 1.59%.

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