Shanghai Metal Market: Shanghai Nickel Range Fluctuates, Consumption Still Remains Weak

Shanghai Metal Market News: Today, the Shanghai nickel futures are trading within a range, with little change from the previous session. Currently, there is more selling than buying in the market; overall, this week’s market consumption level remains relatively low, and the fundamentals have not improved. Downstream stockpiling quantities are generally not increasing much, and in the short term, the outlook for a significant boost in demand remains cautious. Additionally, domestic short-term supply pressure remains relatively strong, and whether consumption will improve later remains to be seen. Today, the Jinshan factory’s ex-works price continues to rise by 200 yuan/ton compared to the previous day, in line with market developments. (SHMET)