China announced on Tuesday the largest ever reduction in benchmark mortgage rates, lowering the five-year loan discount rate by 25 basis points.

Due to China's reduction in mortgage interest rates and the weak US dollar, most varieties in the London metal market fluctuated and closed positive overnight, with nickel prices continuing their previous upward trend. London's three-month futures nickel continued to rise, with an expanded increase on the 20th, reaching a intraday increase of 1.2% and closing at 16,545 US dollars per ton. In the night market, Shanghai nickel fell weakly, closing at 126,920 RMB per ton, a decrease of 270 RMB or 0.21%.

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