London Metal Exchange (LME) nickel futures prices have risen for two consecutive days, but the gains narrowed significantly yesterday, June 19, which slightly increased by US$3/ton to US$15,056/ton. Besides, the spot prices also went up by US$10/ton to US$14,860/ton.

Nickel ore stockpiles at Chinese ports have increased, but support for stainless steel futures emerged as the Chinese government announced funding for a consumer goods trade-in program and Guangdong eased its restrictions on the property market. Meanwhile, LME nickel inventories declined for two consecutive days. However, with buyers only purchasing on demand and market sentiment remaining cautious, nickel prices are holding steady and may see limited fluctuations in the short term.