Industry News

LME nickel price surges on Oct 9

Views : 328
Update time : 2020-10-12 22:52:55
The three-month futures price of nickel on the London Metal Exchange (LME) surged by US$559/ton last Friday (October 9), closing at US$15,221/ton. The spot price also hiked greatly by US$558.5/ton to US$15,181.5/ton.

Meanwhile, LME’s market inventory of nickel slightly decreased by 18 tons to 236,070 tons. The cumulative decrease of this month was 306 tons so far.

According to market participants, nickel prices surged due to the weakening US dollar, the possible resumption of US’ fourth economic stimulus talks, and the soaring stainless steel futures in China.

The short-term nickel price was expected to move stably as China is back to work after the National Day holidays, along with optimistic market demand.
Related News
Read More >>
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Mar .12.2025
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Mar .12.2025
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they? Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
Mar .12.2025
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
International crude oil prices increase on Mar 11 International crude oil prices increase on Mar 11
Mar .12.2025
International crude oil prices increase on Mar 11