Industry News

LME nickel price slightly rises on Jan 20

Views : 121
Update time : 2021-01-21 17:33:27
The three-month futures price of nickel on the London Metal Exchange (LME) slightly rose by US$7/ton yesterday (January 20), closing at US$18,222/ton, and the spot price also hiked by US$5.5/ton to US$18,171.5/ton.

The average nickel price of this month has reached US$17,785/ton, higher than the US$16,823/ton in December 2020.

Meanwhile, LME’s market inventory of nickel increased by 636 tons to 249,726 tons. The cumulative increase of this month has reached 3,118 tons so far.

According to market participants, the US new president Biden will help push the renewable energy industry. Coupled with the weakening US dollar and continuously rising stainless steel prices in China, the short-term nickel prices were expected to keep steady.
Related News
Read More >>
Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows
Jan .24.2025
Overseas alumina prices continue to decline, domestic alumina price difference between north and south China narrows
Entering the Chinese New Year holiday, market trading is sluggish Entering the Chinese New Year holiday, market trading is sluggish
Jan .24.2025
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025 Trade & Pricing: Europe's billet market trend 2024-2025
Jan .24.2025
Trade & Pricing: Europe's billet market trend 2024-2025
Marcegaglia UK includes new stainless steel tube production at Oldbury facility Marcegaglia UK includes new stainless steel tube production at Oldbury facility
Jan .24.2025
Marcegaglia UK includes new stainless steel tube production at Oldbury facility