Steel News

We strive to let you one step ahead of the market.

LME nickel price surges on May 5

6 May 2021 15:10 reported by Joy Liu

A A A
The futures price of nickel on the London Metal Exchange (LME) surged by US$227/ton yesterday (May 5), closing at US$17,896/ton, and the spot price also greatly hiked by US$219.5/ton to US$17,872.5/ton.

The current average nickel price of this month has reached US$17,758/ton, higher than the US$16,507/ton in the previous month.

Meanwhile, LME’s market inventory of nickel dropped by 768 tons to 261,225 tons. The cumulative increase in May has reached 816 tons so far.

According to market participants, nickel prices rebounded sharply due to the decreasing US dollar, dropping China’s nickel inventory, and destocking of stainless steel in Foshan and Wuxi. In the short run, nickel price was expected to move stably.

Back to Steel News

Related News

Russia’s stainless steel output drops in first 4 months of this year

  • Stainless steel
  • 10 Jun 2021 16:25

China’s stainless steel output reaches 3 million tons in May

  • Stainless steel
  • 10 Jun 2021 16:24

LME nickel rises on Jun 8 due to improved economic forecast by World Bank

  • Stainless steel
  • 9 Jun 2021 15:42

Brazil launches CVD investigation on Indonesia’s 304 cold-rolled stainless steel products

  • Stainless steel
  • 9 Jun 2021 15:19

ISSF: Global crude stainless steel output grows by 5.68% in 1950-2020

  • Stainless steel
  • 9 Jun 2021 15:18

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 3,011.00
  • 3,027.50
  • Aluminum
  • 2,490.00
  • 2,477.50
  • Copper
  • 10,029.00
  • 10,059.50
  • Nickel
  • 18,303.00
  • 18,322.00

Learn more

Coil Exchange Center

  • 2B Coil-Jul
  • 3,490
  • 3,350
  • NO1 Coil-Jul
  • 3,460
  • 3,320
  • 2B Coil-Jul
  • 3,490
  • 3,350
  • NO1 Coil-Jul
  • 3,460
  • 3,320

Learn more