Industry News

LME nickel price risen for 3 consecutive days

Views : 84
Update time : 2022-04-18 18:50:27
The LME nickel futures rose by US$194 last Thursday (April 14), closing at US$33,175/ton. The spot price also hiked by US$197, reaching US$33,144/ton.

The nickel price has climbed by US$1,068 in total this month, an increase of 3.3%; the spot price has risen by US$1,051 so far.

Meanwhile, LME’s market inventory of nickel fell by 258 tons, coming to 72,600 tons. The increase in April has amounted to 30 tons.

According to market participants, the Russia-Ukraine conflict is continuing, gas prices in Europe are still high, and smelting enterprises are facing high power costs, which hindered the resumption of production capacity. Moreover, China’s epidemic blocked cargo transport. These are the reasons to boost nickel prices late last week.

Although the demand remained weak in China due to the epidemic, the government’s policy was expected to support the demand, so the nickel prices will fluctuate in the short term.
Related News
Read More >>
FORNNAX reaches new heights with groundbreaking ceremony for one of the largest manufacturing facility FORNNAX reaches new heights with groundbreaking ceremony for one of the largest manufacturing facility
Mar .07.2025
FORNNAX reaches new heights with groundbreaking ceremony for one of the largest manufacturing facility
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
Mar .07.2025
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
Efficient power transmission with Diamond Power Infrastructure’s AL 59 wire rods Efficient power transmission with Diamond Power Infrastructure’s AL 59 wire rods
Mar .07.2025
Efficient power transmission with Diamond Power Infrastructure’s AL 59 wire rods
Here’s what GIADEC’s new CEO thinks about Ghana’s integrated aluminium industry and the impact of the bauxite export ban Here’s what GIADEC’s new CEO thinks about Ghana’s integrated aluminium industry and the impact of the bauxite export ban
Mar .07.2025
Here’s what GIADEC’s new CEO thinks about Ghana’s integrated aluminium industry and the impact of the bauxite export ban