Group 1 - Nickel prices showed a weak fluctuation on Thursday, with SMM 1 nickel quoted at 121,100 CNY/ton, an increase of 200 CNY/ton; Jinchuan nickel at 122,350 CNY/ton, up by 250 CNY/ton; and electrolytic nickel at 119,950 CNY/ton, rising by 150 CNY/ton [1] - On August 22, the Shanghai nickel futures main contract closed at 119,610 CNY/ton, with a decline of 0.48%, reaching a high of 120,080 CNY/ton and a low of 119,230 CNY/ton, with a trading volume of 111,254 lots [2] - The London Metal Exchange (LME) reported nickel registered warrants at 201,750 tons and canceled warrants at 7,998 tons, with total nickel inventory increasing by 150 tons to 209,748 tons [3] Group 2 - The Shanghai Futures Exchange reported nickel warehouse receipts at 22,588 tons, an increase of 29 tons compared to the previous trading day [4] - According to Dongwu Futures research, the Indonesian Nickel Mining Association announced that the nickel ore RKAB approval quota reached 364 million tons, exceeding market expectations, indicating a shift from a tight to a loose nickel ore supply situation [5] - The recent decline in nickel ore prices has weakened support for downstream industries, with high supply and inventory putting overall pressure on nickel prices [5]