LME nickel prices secure fourth weekly gain amid China’s economic data
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Update time : 2026-01-13 15:31:09
The London Metal Exchange (LME) nickel futures rebounded to the above US$17,700/ton level last Friday (January 9), closing at US$17,703/ton, soaring by US$548. This recovery secured a fourth consecutive weekly increase, with prices rising by 5.2% in the previous week despite a strengthening US dollar and rising global stockpiles.
Improved CPI and PPI data from China drove this rebound, even as LME inventories surged by 8,490 tons to reach 284,790 tons. Although January’s average price of US$17,335 sits well above December’s levels, high inventory figures indicate weak underlying demand.
Market participants expect volatile trading ahead as the market balances positive Chinese economic indicators against the persistent growth of refined nickel supplies.
