镍：供需多空交织，期价震荡偏强

Group 1 - The nickel market is experiencing a mix of bullish and bearish factors, leading to a strong fluctuation in prices [1] - Bullish factors include rising demand from the new energy sector and increased demand from some downstream precursor manufacturers, resulting in stable transactions [1] - Bearish factors consist of high nickel ore inventories, a clear supply-demand imbalance, and weakening demand in stainless steel and new energy sectors due to increased supply from Indonesia [1] Group 2 - The expectation of a Federal Reserve interest rate cut has increased, leading to a decline in the dollar and an uplift in domestic liquidity, which boosts demand expectations [1] - Despite the support at the lower end of the nickel price range, the overall market remains volatile [1]