Despite the tight fundamentals of some metal varieties overnight providing support, the uncertain prospects of Sino US negotiations have dragged down the London metal market, causing the vast majority of varieties to fluctuate and decline. The nickel market has also declined, failing to continue its previous upward trend. The three-month nickel futures in London closed at $15,560/ton, fluctuating around 0.9% during trading.

At present, it is seen that the US Treasury Secretary and Trade Representative will meet with the Chinese Vice Premier in Switzerland this weekend. Although it is seen as a preliminary attempt to ease tensions between the two countries, the market has not placed too high expectations.

Domestically, the Shanghai nickel futures experienced weak fluctuations during the night trading session and fell again, with significant suppression from the upper moving average. The final reported price was 123,640 RMB/ton, a decrease of 440 RMB/ton or 0.35%.

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