LME nickel price moves stably on Nov 2
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Update time : 2020-11-03 16:51:41
The three-month futures price of nickel on the London Metal Exchange (LME) slightly went up by US$4/ton yesterday (November 2), closing at US$15,160/ton, and the spot price also hiked by US$0.25/ton to US$15,123.25/ton.
The average nickel price in October reached US$15,239/ton, higher than the US$14,825/ton in September.
Meanwhile, LME’s market inventory of nickel kept flat at 239,016 tons. The cumulative increase in October was 2,640 tons.
According to market participants, nickel prices were expected to be driven by a tighter supply of nickel ore in the future and fewer imports in China. However, the result of the US presidential election might affect nickel prices as macro factors.
