Last week, nickel prices showed weak trend. Under the combined impact of weakening macro sentiment and fundamental pressures, the most-traded SHFE nickel contract came under pressure and fell. On the macro front, rising expectations for Federal Reserve interest rate hikes and the relatively strong performance of the US dollar index exerted pressure on the non-ferrous metals sector. At the same time, US-Iran negotiations continued, leading to uncertainties over sulfur supply expectations, and some of the risk premiums accumulated earlier were given back.