Due to the easing of supply terminal concerns and the impact of increased inventory, most varieties in the London metal market fluctuated and fell overnight, led by copper prices. Currently, the upward trend of nickel prices has once again reversed, showing volatility in performance. The three-month nickel futures in London closed at $15,025 per ton, with a intraday decline of around 0.8%.

At present, the market focus is on the loose supply side. With the recovery of transportation export channels in relevant countries and the production reaching the upper end of the forecast range, the speculation space for "sudden supply interruption" has been weakened. In addition, LME registered exchange inventory has increased again, further easing the expectation of spot shortage.

Domestically, in the night trading session, Shanghai nickel futures opened low and fell, closing weakly and losing the line integer mark of 120,000 RMB/ton. The final closing price was 119,510 RMB/ton, with a decrease of 1,090 RMB/ton or 0.90%.

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