Shanghai Metal Market: Shanghai Nickel Prices Decline, Market Sentiment Slightly Weak

Today, Shanghai nickel prices declined again, with the market mostly remaining volatile. Spot prices mostly followed the trend, with the exception of Jinchuan Nickel, which remained relatively firm. Most other brands saw slight decreases. Although some end-users purchased in moderation on dips, the overall market performance was poor, and transactions remained difficult. Some traders reported that downstream companies are starting to go on holiday one after another, leading to a reduction in offered prices by traders. Today, Jinchuan manufacturers slightly lowered their ex-factory prices by 700 yuan/ton compared to the previous day, in line with market developments. (SHMET)