en.Wedoany.com Report on Mar 26th, This week, the spot price of #1 nickel on the Yangtze River market exhibited a classic "V-shaped reversal." The price saw a significant correction on the 24th, with the average price dropping by 2,100 yuan/ton to 136,150 yuan/ton. It then staged a strong rebound on the 25th, rising by 1,800 yuan/ton in a single day, with the average price recovering to 137,950 yuan/ton. This not only fully recovered the lost ground but also slightly surpassed the starting level of the 23rd. Notably, intraday volatility was intense during this period, with a price spread as high as 6,400 yuan/ton on the 25th, highlighting how short-term sentiment from the tug-of-war between bullish and bearish funds dominated the market. Overall, the nickel price's ability to quickly rebound after a rapid decline indicates strong support exists at the current price range, maintaining a relatively high level amidst intense fluctuations. Future direction requires close attention to macro sentiment and specific supply-demand news from the industrial chain for guidance.

As of March 25, 2026, the global macro situation reached a critical juncture: Federal Reserve officials hinted at further delays to interest rate cut plans due to easing Middle East tensions and strengthening inflation expectations. The US presented Iran with 15 ceasefire conditions, offering a glimmer of hope for easing geopolitical risks. On that day, the US Dollar Index fluctuated weakly, while a rebound in US tech stocks lifted global risk appetite. Domestically, the central bank conducted a 450 billion yuan MLF operation, releasing ample liquidity. The dividends from the start of the "15th Five-Year Plan" continued to unfold: 23 provinces have announced 26,753 provincial-level key projects, with 17 provinces planning a combined annual investment exceeding 10 trillion yuan. Infrastructure investment remained high, the decline in real estate investment narrowed, steel production and demand rebounded simultaneously with slower inventory growth, indicating a comprehensive recovery in terminal demand. Resonating with multiple macro tailwinds, the nickel price quickly rebounded after a rapid dip, demonstrating notable resilience at the current price range and injecting strong confidence into the commodity market.