Industry News

LME’s nickel prices rebound sharply on Dec 3 amid weaker dollar & increased buying momentum

Views : 123
Update time : 2024-12-04 18:41:23
On December 3, the London Metal Exchange (LME) nickel futures price soared by US$322/ton and closed at US$16,015/ton. Meanwhile, the nickel spot price also went up by US$330/ton to US$15,791/ton. The nickel inventory at LME greatly went up by 1,296 tons to 164,430 tons.

Nickel prices saw a significant rebound as the US dollar weakened at yesterday’s close, and Chinese stainless steel futures recovered after reaching multi-year lows. Additionally, low nickel prices encouraged downstream buyers to make purchases, further supporting the price recovery. However, rising inventories of refined nickel may contribute to short-term market volatility.
Related News
Read More >>
India’s Bansal Wire Industries expends stainless steel wire capacity at Uttar Pradesh facility India’s Bansal Wire Industries expends stainless steel wire capacity at Uttar Pradesh facility
Apr .24.2025
India’s Bansal Wire Industries expends stainless steel wire capacity at Uttar Pradesh facility
China’s alumina exports surge in Mar due to domestic oversupply China’s alumina exports surge in Mar due to domestic oversupply
Apr .24.2025
China’s alumina exports surge in Mar due to domestic oversupply
Ferromolybdenum prices rise sharply in China, raising stainless steel costs Ferromolybdenum prices rise sharply in China, raising stainless steel costs
Apr .24.2025
Ferromolybdenum prices rise sharply in China, raising stainless steel costs
Fagersta Stainless upgrades with Danieli’s new stainless steel blooming mill for high-quality products Fagersta Stainless upgrades with Danieli’s new stainless steel blooming mill for high-quality products
Apr .24.2025
Fagersta Stainless upgrades with Danieli’s new stainless steel blooming mill for high-quality products