Industry News

Nickel prices on Nov 22 climb to two-week high amid tightened supply

Views : 54
Update time : 2024-11-26 16:35:46
Nickel futures price at the London Metal Exchange (LME) greatly increased by US$256/ton and closed at US$15,970/ton on November 22. At the same time, the nickel spot price also soared by US$261/ton to US$15,737/ton. The nickel inventory at LME reversed to grow by 954 tons to 159,000 tons.

Nickel prices on November 22 reversed their trend and climbed to a nearly two-week high, the highest since November 12. Over the past week, prices rose by US$430, marking a 2.7% increase, while gaining US$252, or 1.6%, since the start of the month.

Despite a stronger US dollar and rising LME nickel inventories, a decline in China's ferronickel imports sparked signs of a rebound in the nickel market. Tightened supply pushed nickel prices higher. However, downstream buyers remained cautious, and market activity was relatively subdued. In the near term, nickel prices are expected to follow a stable yet fluctuating trend.
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