Nickel prices rose slightly, and the spot price was 126,216.67 yuan/ton, an increase of 1.86% from the previous day, a decrease of 1.5% from the beginning of the year, and a year-on-year increase of 21.77%. Shanghai Nickel rose 3.61% to close at 126,560 yuan/ton.
U.S. stocks rose, global economic prospects improved, demand recovery, domestic nickel stocks were low to support prices, and the external atmosphere was strong. Nickel prices were in a rebound stage. Before the May 1st holiday, some merchants had stocking demand, which caused nickel prices to rise. However, LME inventories are still at a high level, and nickel prices have risen sharply under pressure. Nickel prices are expected to fluctuate strongly in the short term.
