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Shanghai Metal Market: Shanghai Nickel Range Consolidation Continues the Slightly Bearish Trend
Today, Shanghai Nickel traded within a narrow range, with spot prices fluctuating slightly alongside the market. Currently, the market has limited selling volume, and short-term cautious sentiment continues; many are not eager to take on positions. Overall, terminal consumption still needs further improvement, with demand growth weaker than expected. Short-term inventory pressure remains, and increased consumption and time costs are required to reduce it. Today, Jinchuang manufacturers slightly lowered their ex-factory prices by 200 yuan/ton compared to the previous day, following market developments. (SHMET)