Group 1 - The nickel futures market is experiencing a significant downturn, with LME nickel prices dropping by 4.51% to $17,250 per ton, and domestic Shanghai nickel futures also declining by 3.74% to 135,070 CNY per ton [1] - The market is facing a dual impact of macroeconomic factors, including strong U.S. employment data and a potential hawkish Federal Reserve, which have shifted market expectations from rate cuts to a stronger dollar and rising U.S. Treasury yields, negatively affecting metal prices [1] - The overall sentiment in the nickel market is characterized by a wait-and-see approach, with supply remaining stable and demand weakening due to seasonal factors, particularly in the stainless steel sector [2] Group 2 - The nickel industry is witnessing a structural divergence, where the stainless steel sector is significantly impacted by seasonal slowdowns, while the new energy sector maintains some demand for nickel sulfate, leading to a mixed market outlook [2] - Leading companies in the nickel industry are focusing on resource layout and have made progress in overseas wet smelting and high-nickel projects, which enhance their ability to navigate industry cycles [3] - The current market environment suggests a defensive strategy for investors, emphasizing position control and short-term trading due to the influence of macroeconomic sentiment rather than fundamental industry drivers [3][4] Group 3 - Nickel prices are expected to continue a weak and volatile trend, with a key psychological support level at 134,000 CNY per ton, and resistance between 139,000 to 140,000 CNY per ton, indicating limited upward movement without strong positive drivers [4]