Fed indicates interest rate cuts next year, LME’s nickel price up on Dec 14
Views : 170
Update time : 2023-12-18 16:17:01
On December 14, nickel futures price at the London Metal Exchange (LME) hiked by over US$500/ton and closed at US$16,972/ton. Meanwhile, the nickel spot price increased by US$519/ton to US$16,762/ton.
At the same time, the nickel inventory at LME increased by 414 tons to about 49,000 tons.
Because the Fed indicated that the interest rate might decrease from next year, the US dollar would become weak, which further drives the basic metal prices to increase.
