Market Movements - US stock futures experienced a significant surge, with the Dow Jones futures rising by 2.72%, S&P 500 futures increasing by 2.37%, and Nasdaq 100 futures up by 2.19% [1] - The FTSE China A50 index futures also saw a rise of over 1% [2] - European stock markets quickly gained, with the Euro Stoxx 50 index up by 3.51%, France's CAC 40 index increasing by 2.62%, Germany's DAX 30 index rising by 4.26%, and Italy's FTSE MIB index up by 2.22% [2] Oil Market Impact - Following President Trump's announcement of a five-day pause on military strikes against Iran's energy infrastructure, international oil prices plummeted, with WTI crude oil dropping by 10.16% to $88.25 per barrel and Brent crude oil falling by 7.87% to $98.08 per barrel [4] Commodity Prices - London copper rose over 4% to $12,315.90 per ton, while London nickel increased by 2.00% to $17,178.40 per ton [5] - In the cryptocurrency market, Bitcoin surged to $71,183.4, marking a 3.69% increase in the past 24 hours, and Ethereum rose to $2,161.96, with a 3.81% increase [5] Geopolitical Developments - Iran's ambassador to India denied claims regarding charging ships passing through the Strait of Hormuz a fee of $2 million, amidst reports of Indian-flagged vessels navigating near Iranian waters [6] - The US aircraft carrier Ford arrived at Souda Bay in Greece for repairs after a fire incident, indicating ongoing military movements in the region [6]

Group 1 - The yield on the US 10-year Treasury bond decreased by 8.4 basis points, now at 4.307% [1] - European stocks turned positive, with the German DAX and French CAC40 indices rising over 2% during the day [2] - The price of copper in London increased by over 4%, currently at $12,315.90 per ton, while nickel rose by 2% to $17,178.40 per ton [2] Group 2 - Spot gold saw a narrowing decline of 1.08%, now priced at $4,443 per ounce, while spot silver increased by 1.6% [3] - International oil prices experienced a sharp drop, with both WTI and Brent crude oil falling over 13% [4] - Dow Jones futures rose by 1.92%, S&P 500 futures increased by 2.30%, and Nasdaq 100 futures gained 2.08% [5] Group 3 - The Turkish Istanbul 100 index declined by 3.11% [6] - The UK 2-year Treasury yield rose by 14 basis points to 4.71%, marking a new high since November 2023 [7] - The US 2-year Treasury yield reached 4% for the first time since June, hitting its highest level since June 2025 [8][9]

Group 1 - LME metal futures experienced a general decline, with copper, aluminum, zinc, lead, and nickel all reporting losses, while tin showed resilience with a five-day consecutive increase [1] - As of the close, London copper was priced at $13,259, down $90.5, a decrease of 0.68%; London aluminum was at $3,141.5, down $33, a decrease of 1.04%; London zinc was at $3,366.5, down $20.5, a decrease of 0.61%; London lead was at $1,979, down $16.5, a decrease of 0.83%; London tin was at $54,385, up $470, an increase of 0.87%; London nickel was at $17,730, down $315, a decrease of 1.75% [1]

Metal Market - Domestic base metals generally rose, with the exception of zinc, which fell by 0.04%. Tin led the gains with a 7.62% increase, followed by nickel at 2.32%. Other metals had gains of less than 1% [1] - In the black metal sector, all commodities saw increases of over 1%, with iron ore up 1.42%, stainless steel up 1.24%, rebar up 1.72%, and hot-rolled coil up 1.19%. Both coking coal and coke rose by 2.32% [1] - On the external market, base metals also showed an upward trend, with tin leading at 5.27% and nickel up by 1%. Other metals had gains of less than 1% [1] - Precious metals saw COMEX gold rise by 0.68% and silver by 3.42%. In the domestic market, Shanghai gold fell by 0.04%, while silver rose by 4.57% [1] Additional Metals - Platinum rose by 7.03%, and palladium increased by 4.5% [2] Macro Environment - The Shanghai Municipal Housing and Urban-Rural Development Committee and other departments issued a notice to optimize real estate policies, effective from February 26, 2026, aimed at meeting housing demand and promoting market stability [5][6] - The People's Bank of China conducted a 7-day reverse repurchase operation of 4.095 billion yuan at an interest rate of 1.40% [6] Oil Market - As of 15:04, both WTI and Brent crude oil prices increased, with WTI up 0.55% and Brent up 0.54%. Traders are preparing for upcoming US-Iran talks [9] - The API reported a crude oil inventory of 11.427 million barrels for the week ending February 20, against an expectation of 1.25 million barrels [9]

Core Viewpoint - LME metal futures experienced a general decline, with the exception of tin, which saw an increase in price [1] Group 1: Price Movements - LME copper closed at $12,901, down $99, a decrease of 0.76% [1] - LME aluminum closed at $3,091, down $14.5, a decrease of 0.47% [1] - LME zinc closed at $3,345.5, down $32.5, a decrease of 0.96% [1] - LME lead closed at $1,952, down $14.5, a decrease of 0.74% [1] - LME tin closed at $47,370, up $630, an increase of 1.35% [1] - LME nickel closed at $17,285, down $150, a decrease of 0.86% [1]

Core Viewpoint - LME metal futures experienced a widespread decline, with nickel and tin leading the drop, and copper reaching a one-week low [1] Group 1: Price Movements - London copper closed at $12,855.5, down $383.5, a decrease of 2.90% [1] - London aluminum closed at $3,097.5, down $19.5, a decrease of 0.63% [1] - London zinc closed at $3,381.5, down $36.5, a decrease of 1.07% [1] - London lead closed at $1,984, down $10.5, a decrease of 0.53% [1] - London tin closed at $47,800, down $2,265, a decrease of 4.52% [1] - London nickel closed at $17,250, down $815, a decrease of 4.51% [1]

Core Viewpoint - LME metal futures experienced a broad increase, with nickel leading the gains, reaching a nearly two-week high, and lead rising for four consecutive days [1] Group 1: Price Movements - As of the close, copper was reported at $13,239, up $139, a rise of 1.06% [1] - Aluminum closed at $3,117, increasing by $12, reflecting a 0.39% gain [1] - Zinc was reported at $3,418, up $20, marking a 0.59% increase [1] - Lead reached $1,994.5, gaining $17, which is an increase of 0.86% [1] - Tin was reported at $50,065, up $835, showing a rise of 1.70% [1] - Nickel closed at $18,065, increasing by $515, a rise of 2.93% [1]

Core Viewpoint - The Indonesian Ministry of Energy and Mineral Resources has approved a nickel ore production quota between 260 million tons and 270 million tons, significantly lower than last year's target of 379 million tons, leading to market fluctuations in nickel prices [3][6]. Group 1: Production Quota and Market Impact - The approved nickel ore production quota is between 260 million tons and 270 million tons, a substantial decrease from the previous year's target of 379 million tons [3][6]. - Following this announcement, nickel prices on the London Metal Exchange surged, which also influenced domestic nickel prices in China, with Shanghai nickel experiencing a daily increase of over 4% [3][6]. Group 2: Supply and Demand Dynamics - Nickel ore premiums have strengthened, and nickel iron prices are fluctuating at high levels. SMM data indicates a decline in the inventory index for Indonesian nickel ore, attributed to monitoring system delays and new project launches [3][6]. - There are concerns about tight resource supply due to the tightening of Indonesian quotas, which is expected to elevate boundary cost support [3][6]. - Demand has shown signs of weakening, particularly due to inventory accumulation in stainless steel ahead of the February Spring Festival, while supply-side maintenance is prevalent [3][6]. Group 3: Price Support and Market Sentiment - Despite a temporary weakening in demand, cost support remains robust, suggesting that nickel prices will continue to have strong support near the cost line [3][6]. - Current nickel prices lack the fundamental support to establish an independent market trend, indicating the need to monitor market sentiment and external influences [3][6]. - With the upcoming Spring Festival, the impact of Indonesian news on market fluctuations is expected to remain significant, leading to a recommendation for light positions during the holiday [3][6].

Group 1 - The core point of the article is that London nickel prices experienced a short-term surge, increasing nearly 2.5% to reach $17,915 per ton [1]

Core Viewpoint - The LME metal futures showed mixed performance, with nickel experiencing a three-day rise while other metals fluctuated in price [1] Group 1: Price Movements - As of the close, copper was reported at $13,100, down $85, a decrease of 0.64% [1] - Aluminum closed at $3,105, down $25, a decline of 0.80% [1] - Zinc increased to $3,398, up $16, an increase of 0.47% [1] - Lead rose to $1,977.5, up $3, a rise of 0.15% [1] - Tin was reported at $49,230, down $585, a decrease of 1.17% [1] - Nickel closed at $17,550, up $140, an increase of 0.80% [1]