LME nickel price continues to rise
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Update time : 2021-02-09 17:19:58
The three-month futures price of nickel on the London Metal Exchange (LME) rose by US$138/ton yesterday (February 8), closing at US$18,167/ton, and the spot price also hiked by US$134.55/ton to US$18,121.25/ton.
Meanwhile, LME’s market inventory of nickel maintained flat at 249,444 tons. The cumulative increase in February has reached 558 tons so far.
According to market participants, nickel prices kept rising due to the continuously weakening US dollar, stronger demand for ternary batteries, and normal operation at some steel mills in China. It was predicted that nickel prices will fluctuate in a stable trend in the short term.
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