LME nickel prices hike above $31,000/ton level on Jan 3
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Update time : 2023-01-04 19:39:16
The London Metal Exchange (LME) nickel future price on January 3 hiked by US$1,070/ton and closed at US$31,118/ton. Meanwhile, the nickel spot price skyrocketed by US$1,072/ton to US$30,958/ton.
At the same time, the nickel inventory at LME decreased by 96 tons, reaching 55,380 tons.
China’s stainless steel production in December increased. The stainless steel future market was optimistic, and the spot market prices kept stable, which improved the transaction and drove nickel prices accordingly.
Entering the Chinese New Year holiday, market trading is sluggish
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