LME nickel price surges by 5.4% last week
Views : 321
Update time : 2020-12-15 17:55:06
The three-month futures price of nickel on the London Metal Exchange (LME) fell by US$146/ton last Friday (December 11), but it surged by US$885/ton totally in the previous week, with an increase of 5.4%.
Meanwhile, LME’s market inventory of nickel decreased by 246 tons to 243,180 tons. The cumulative increase of this month was 1,518 tons so far.
According to market participants, nickel prices fell due to the US’ postponed stimulus measures and bad performance in the US industries’ production. However, the future nickel price was expected to be supported by the optimistic outlook of demand from the new energy vehicle battery market.
