SunSirs: The Morning Post of Nickel on March 20th
March 20 2025 15:24:20 SunSirs (John)
Overnight, the London metal market was affected by speculators' increased tariff bets. Led by copper prices, most metal varieties fluctuated and closed higher, while nickel prices reversed their previous decline and rose again along with the trend. The three-month nickel futures in London closed at 16,405 US dollars per ton, with an intraday increase of around 1.0%. At present, traders indicate that funds using computer trading systems are leading market buying, mainly based on the fact that some metal prices have broken through technical resistance and shown strong upward momentum. At the same time, some people buy base metals and sell black metals or crude oil in relative value trading.
Domestically, in the night trading session, Shanghai nickel futures opened high and fell, but closed slightly higher, failing to stabilize at the level of 132,000 RMB/ton. The final price was 130,870 RMB/ton, with an increase of 480 RMB/ton or 0.37%.
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