SunSirs: The Morning Post of Nickel January 21st

Despite the boost from Trump's temporary suspension of tariffs, most varieties in the London metal market fluctuated and closed higher overnight, but nickel prices did not perform well and did not rise with the trend, closing slightly lower. The final closing price for three-month nickel in London was 16,085 US dollars per ton, a drop of around 0.1% during trading.

Since Trump won the US election in November, the market has been concerned about the US imposing import tariffs, especially a 60% tariff on the top metal consuming country, as a potential trade war would harm global trade and growth prospects. However, yesterday traders stated that this fear has now subsided, and short-term risk appetite has increased accordingly.

On the domestic front, the Shanghai nickel futures opened lower and rose again in the evening session, returning to the line of 128,000 RMB/ton. The final offer was 128,110 RMB/ton, with an increase of 220 RMB/ton or 0.17%.

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