Industry News

LME nickel price increased for 3 months

Views : 265
Update time : 2021-08-02 17:47:21
The three-month futures price of nickel on the London Metal Exchange (LME) fell by US$283/ton last Friday (July 30), closing at US$19,552/ton. The spot price also dropped by US$286/ton, reaching US$19,547/ton.

LME nickel prices have hiked US$1,338 in total in July, an increase of 7.35%, which was the third monthly increase.

LME’s market inventory of nickel continued decreasing, down by 780 tons to 214,632 tons. The cumulative decrease in July reached 17,844 tons so far.

According to market participants, the US dollar rose back as the inflation in the US became severer, coupled with concerns about the impact of the COVID-19 epidemic on the economy, nickel prices dropped accordingly.

However, due to the continuous decline in inventories and strong demand, the future nickel price was expected to strengthen.
Related News
Read More >>
Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices
Apr .29.2025
Vale Q1 Revenues & Earnings Miss Estimates on Lower Iron Ore Prices
Brazil's steel imports may break Mar record in Apr Brazil's steel imports may break Mar record in Apr
Apr .29.2025
Brazil's steel imports may break Mar record in Apr
Nickel prices surge as LME inventories decline & US-China trade tensions ease Nickel prices surge as LME inventories decline & US-China trade tensions ease
Apr .29.2025
Nickel prices surge as LME inventories decline & US-China trade tensions ease
Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics
Apr .29.2025
Hydro & Wilson collaborate on wind-powered shipping for greener aluminum logistics