SunSirs: The Morning Post of Nickel on November 28th
November 28 2024 15:39:30 SunSirs (John)
Although the weakness of the US dollar in the overnight market provided some support, physical demand remained weak due to deflationary pressures, and the London metal market showed mixed trends. Nickel prices are currently sluggish and continue to decline.
The three-month nickel futures in London closed at 15,880 US dollars per ton, with a intraday decline of around 0.6%. In the past two weeks, metals used for electricity and construction have shown narrow range fluctuations as the market awaits details of possible tariffs imposed by the new US government and possible responses from China.
On the domestic front, the night market of Shanghai nickel futures showed weak consolidation and continued to decline, with support from the 125,000 RMB/ton line below. The final reported price was 125,820 RMB/ton, with a decrease of 670 RMB/ton or 0.53%
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