Recently, the economic data of China and the United States have been mixed, and investors have a more positive view of domestic demand after the New Year. In addition, the lack of immediate equivalent tariffs imposed by the United States has temporarily eased market concerns about US import tariffs.
Last weekend, the London metal market showed mixed performance, with nickel prices closing slightly higher after a continuous decline. The three-month nickel futures in London closed at 15,460 US dollars per ton, with an intraday increase of around 0.6%.
At present, with the measures taken by the People's Bank of China to support economic recovery, China's new bank loans in January hit a historic high and exceeded expectations, which has strengthened people's expectations that China will introduce more stimulus measures in the coming months.
Domestically, in the night trading session, Shanghai nickel futures opened higher and then fell, fluctuating and closing down, continuing to seek support at the bottom line of 123,000 RMB/ton. The final quoted price was 123,520 yuan /ton, a decrease of 570 RMB/ton or 0.46%.
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