LME nickel price slides on Feb 23
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Update time : 2021-02-24 19:53:41
The three-month futures price of nickel on the London Metal Exchange (LME) slid by US$148/ton yesterday (February 23), closing at US$19,352/ton, and the spot price also fell by US$148/ton.
The current average nickel price of this month has reached US$18,490/ton, obviously higher than the US$17,863/ton in the previous month.
According to market participants, nickel prices dropped back after surging a lot in the previous week. China’s downstream companies had a lower willingness to purchase, stainless steel futures in China fell, and the market inventories rose greatly, so the short-term nickel price was expected to move weakly.
