Nickel Futures Decline, Market Pessimism Grows, Transactions Scarce Amid Price Discrepancies

Published: May 18, 2026 21:58

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[SMM Nickel Flash] On May 18, futures continued to decline, and market pessimism spread. Upstream suppliers mostly maintained high offer prices, but actual transactions were scarce, with some softening in quoted prices. Downstream steel mills adopted a more cautious purchasing stance, mostly referencing steel scrap price ratios, with mainstream intended bids concentrated at 1120-1130 yuan/nickel unit, showing a clear divergence from upstream offers. Under the short-term downward trend, both upstream and downstream pricing sentiment remained cautious, further suppressing spot transaction activity.

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