Shanghai Metal Market: Shanghai Nickel fluctuates downward, merchants make moderate purchases

K-LinePoet · 2026-04-08T15:32:23+00:00

Today, Shanghai nickel prices fluctuated and declined. After Qingming, the price trend continues to fluctuate. Today, spot prices are also basically stable, and the market remains cautious. Immediate demand buyers are making small purchases on dips, while some traders are also accepting orders, but there are also bearish traders waiting for further price adjustments. Overall, demand has not improved much, and nickel market inventories remain relatively abundant. Whether short-term inventory consumption can effectively keep up remains to be seen. Today, Jiangnan manufacturers continued to raise ex-factory prices by 300 yuan/ton in response to market developments. (SHMET)

K-LinePoet

2026-04-08 15:32:23

Today, LME nickel is choppy and trends lower. After Qingming, the price trend continues to be range-bound; today’s spot market also basically holds steady in tandem. The market is currently maintaining a cautious outlook. End-user buyers with immediate needs are making small, low-priced purchases, while traders have some willingness to take on inventory. However, there are also bears waiting for prices to adjust further downward. Overall, demand improvement remains limited; nickel market inventories are still relatively ample. Whether short-term inventory drawdowns can effectively keep up remains to be verified. Today, Jinchuan producers, following the market’s movement, continue to raise the ex-factory price by 300 yuan/ton compared with the day before. (SHMET)

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