Macro Sentiment Rebounds, Nickel Prices Recover from Oversold Levels [Institutional Commentary]

Apr 10, 2025, at 7:19 pm

Nickel prices opened higher today and fluctuated upward, with relatively small changes in open interest. From a macro perspective, the relaxation of US tariff measures last night catalyzed a counterattack by the bulls, leading to a broad rally in global assets. At the industry level, nickel ore maintained a strong performance, providing support for nickel prices, while downstream stainless steel also showed strength. Previously, under macro dominance, nickel prices fell below the bottom since November 2023, showing a trend of breaking downward. In the short term, with the recovery of macro sentiment, futures prices may experience an oversold rebound.

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On April 10, LME nickel inventory increased by 768 mt, and Kaohsiung warehouse increased by 942 mt.
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SMM • 8 months ago
[SMM Analysis] Calculation of the Tariff Rates on New Energy Vehicles Exported by the United States to Major Countries and Regions Worldwide After the Implementation of the “Reciprocal Tariff”

Macro Sentiment Rebounds, Nickel Prices Recover from Oversold Levels [Institutional Commentary]

On April 10, LME nickel inventory increased by 768 mt, and Kaohsiung warehouse increased by 942 mt.

[SMM Analysis] Calculation of the Tariff Rates on New Energy Vehicles Exported by the United States to Major Countries and Regions Worldwide After the Implementation of the “Reciprocal Tariff”