SMM

Recent nickel prices have been on a downward trend due to continuous accumulation of stocks and accelerated approval of RKAB, relieving pressure on nickel ore supply. Since late March, Shanghai nickel futures have been consistently weak, with only a few days of gains. As of 10:12 today, they fell by 1.95%, marking the third consecutive day of decline. London nickel prices have followed a similar trajectory, with a smaller decline today, down 0.34% as of 10:15.