Continuing to be affected by concerns about tariffs and economic growth, most varieties in the London metal market fluctuated and fell overnight, and the upward trend in nickel prices did not continue, with a slight decline. The three-month nickel futures in London closed at 16,480 US dollars per ton, with a intraday decline of around 0.1%.
Although Trump's suspension of tariffs on Canada and Mexico in the coming month will help base metals rise, concerns about tariffs and an escalation of the trade war have caused most metal varieties to fluctuate and fall back due to Trump's plan to impose equivalent tariffs on April 2.
On the domestic front, the Shanghai nickel futures remained stable at a high level during the night trading, fluctuating and closing higher, hitting a recent high during the trading session. The final quoted price was 132,640 RMB/ton, with an increase of 830 RMB/ton or 0.63%.
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