SunSirs: The Morning Post of Nickel on December 25th
December 25 2024 15:59:57 SunSirs (John)
Trading remained quiet before the Western Christmas holiday, with basic metals maintaining range fluctuations. Most varieties in the London trading market fluctuated and closed higher overnight, while nickel prices continued to rise along with the trend. London's three-month nickel final closed at 15,485 US dollars per ton, with intraday gains continuing to widen to around 1.3%.
Although the market is still concerned about weakened demand, global risk assets including commodities have received support from US data. The data shows that the growth rate of personal consumption expenditure in the United States is the lowest since May, which has sparked speculation that the Federal Reserve will further relax monetary policy.
Domestically, the Shanghai nickel futures remained stable at a high level during night trading and continued to rise, temporarily standing at the 125,000 RMB/ton mark. The final price was 125,670 RMB/ton, with an increase of 970 RMB/ton or 0.78%.
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