Recent LME nickel prices expected to keep stable
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Update time : 2020-10-21 15:41:03
The current LME futures price has rebounded and exceeded the US$15,600/ton level, hitting a new high compared to the past 1.5 months.
The surge in nickel prices was due to the impact of strikes in Indonesia and the COVID-19 epidemic, as well as boosted market demand for stainless steel in China due to the government’s policy for new energy vehicles.
Besides, due to the upcoming rainy season in the Philippines and low nickel ore inventory in China, nickel prices were expected to keep stable in the future.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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