The London metal market performed lightly before the holiday, and temporarily there is no sign of easing in the trade war between the United States and China, causing the basic metal market to maintain a narrow range of fluctuations. The overnight market eventually saw mixed gains and losses, and nickel prices continued their recent good upward trend, closing slightly again. The three-month nickel futures in London closed at 15,695 US dollars per ton, with intraday gains continuing to narrow to around 0.1%.

Currently, due to the impact of US tariff policies, the global economic growth rate is expected to slow down from slightly below 3% last year to 2.1% this year, and some metals have already fallen below the main moving average.

Domestically, the Shanghai nickel futures fluctuated widely in the night trading range, and continued to rise in the late trading. Currently, the oscillation range has not further moved up. The final price was 125,780 RMB/ton, with an increase of 120 RMB/ton or 0.10%.

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