Steel News

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

LME nickel price rises for 2 consecutive days due to falling US dollar

8 Dec 2023 16:42 reported by Joy Liu

A A A
The LME nickel futures rose by US$290 yesterday (December 7), closing at US$16,508/ton. The spot price increased by US$291.5, reaching US$16,306/ton.

At the same time, the LME-monitored nickel inventory surged by 1,992 tons, coming to 48,360 tons. The cumulative increase this month has reached 2,022 tons.

As the US dollar weakened and purchases improved due to the dropped nickel price, nickel prices were driven to rebound for two consecutive days. However, there is still an oversupply situation in the market. With the pressure on inventory accumulation, the short-term nickel price could fluctuate.

Back to Steel News

Related News

Molten Industries receives $5.4 million for green steel project

  • Stainless steel
  • 25 Jul 2024 13:29

Turkey's stainless steel flat products imports increase in Jan-May y-o-y

  • Stainless steel
  • 23 Jul 2024 16:03

China starts to review AD measures on stainless steel imports from 4 countries

  • Stainless steel
  • 23 Jul 2024 15:27

Stainless steel futures on SHFE increase on Jul 22

  • Stainless steel
  • 22 Jul 2024 17:17

India's stainless steel to grow steadily at 8-10% on infrastructure drive

  • Stainless steel
  • 19 Jul 2024 15:05

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,652.00
  • 2,709.50
  • Aluminum
  • 2,265.50
  • 2,312.50
  • Copper
  • 9,018.00
  • 9,142.00
  • Nickel
  • 15,640.00
  • 15,950.00

Learn more

Coil Exchange Center

  • 2B Coil-Aug
  • 0
  • 0
  • NO1 Coil-Aug
  • 0
  • 0
  • 2B Coil-Aug
  • 0
  • 0
  • NO1 Coil-Aug
  • 0
  • 0

Learn more