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Steel News

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Home Steel News Nickel prices rebound on strong US jobs data, weaker dollar, falling LME inventories
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Nickel prices rebound on strong US jobs data, weaker dollar, falling LME inventories

5 May 2025 15:45 reported by Stanley Wang

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The nickel futures at the London Metal Exchange (LME) hiked by US$228 and closed at US$15,480/ton on May 2. During the same day, the spot price also increased by US$229/ton to US$15,287/ton. Meanwhile, the inventory monitored by LME reversed to decrease by 1,512 tons to 200,418 tons.

US non-farm payrolls rose by 177,000 in April, indicating a resilient labor market. Meanwhile, the US dollar weakened, and LME nickel inventories declined, prompting a rebound in nickel prices. Market analysts also pointed to signs of easing tensions in the US-China trade war. In the short term, during China’s labor holiday, nickel price movements are expected to be influenced by macroeconomic developments.

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Metal Price Index

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  • Created with Highcharts 4.0.41. Apr1. May1. Jun800085009000950010,00010,500
  • Nickel
  • Zinc
  • Aluminum
  • Copper

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LME Official Bid Price

  • USD / MT
  • Cash
  • 3 Months
  • Zinc
  • 2,690.00
  • 2,716.00
  • Aluminum
  • 2,480.00
  • 2,482.00
  • Copper
  • 9,537.00
  • 9,523.00
  • Nickel
  • 15,465.00
  • 15,640.00

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