LME nickel price rebounds on Jun 10
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Update time : 2020-06-12 18:53:08
The three-month futures price of nickel on the London Metal Exchange (LME) rebounded by US$94/ton yesterday (June 10th), closing at US$13,007/ton.
Meanwhile, LME’s market inventory of nickel increased by 300 tons, reaching 232,410 tons. The cumulative decrease in June was 768 tons.
According to market participants, the US Federal Reserve kept its policy unchanged, and the US dollar continued its downtrend. Many countries restarted their economy, which made better market demand, so nickel prices rebounded accordingly. The short-term nickel price was expected to fluctuate as it increased a lot recently.
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