SunSirs: The Morning Post of Nickel on March 12th

With the weakening of the US dollar and the boost from reduced inventory on exchanges, most varieties in the London metal market fluctuated and closed higher overnight. However, nickel prices were relatively weak and failed to continue the previous day's upward trend and fell again. The three-month nickel futures in London closed at 16,480 US dollars per ton, with a intraday decline of around 0.4%.

Against the backdrop of a possible slowdown in global economic growth and long-term high inflation rates, Trump's tariff policies in the United States are unfavorable for copper and other growth dependent metals. Due to the potential slowdown in US economic growth caused by tariffs, while China, the largest consumer of metals, is still striving to recover its economy, demand for copper and other industrial metals may weaken.

On the domestic front, the night market of Shanghai nickel futures showed weak consolidation, fluctuating and closing lower, but the first-line support of 132,000 RMB/ton was still in place. The final reported price was 132,240 RMB/ton, with a decrease of 380 RMB/ton or 0.29%.

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