Industry News

LME nickel price rebounds on Dec 17

Views : 295
Update time : 2020-12-18 16:43:52
The three-month futures price of nickel on the London Metal Exchange (LME) rebounded by US$106/ton yesterday (December 17), closing at US$17,517/ton, and the spot price also rose by US$106.5/ton to US$17,460/ton. The average nickel price of this month has reached US$16,786/ton, higher than the US$15,808/ton in the previous month.

Meanwhile, LME’s market inventory of nickel decreased by 102 tons to 244,212 tons. The cumulative increase of this month was 2,550 tons so far.

According to market participants, nickel prices rebounded as the US dollar index came to a two-and-a-half-year low, China and the US’ manufacturing industry performed strongly, and inventory at China ports declined. Therefore, the short-term nickel price was expected to be in a fluctuating trend.
Related News
Read More >>
Taiwan’s Yieh Phui seeks vindication after US preliminary dumping determination on corrosion-resistant steel products Taiwan’s Yieh Phui seeks vindication after US preliminary dumping determination on corrosion-resistant steel products
Apr .17.2025
Taiwan’s Yieh Phui seeks vindication after US preliminary dumping determination on corrosion-resistant steel products
Rio Tinto posts declines in Q1 Pilbara iron ore shipments & production Rio Tinto posts declines in Q1 Pilbara iron ore shipments & production
Apr .17.2025
Rio Tinto posts declines in Q1 Pilbara iron ore shipments & production
China’s crude steel output rises by 4.6% in May, hitting 10-month high China’s crude steel output rises by 4.6% in May, hitting 10-month high
Apr .17.2025
China’s crude steel output rises by 4.6% in May, hitting 10-month high
Philippine SteelAsia to start new steel sections mill in 2027 Philippine SteelAsia to start new steel sections mill in 2027
Apr .17.2025
Philippine SteelAsia to start new steel sections mill in 2027