LME nickel price rebounds on Jun 15
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Update time : 2020-06-17 12:20:15
The three-month futures price of nickel on the London Metal Exchange (LME) rebounded by US$76/ton yesterday (June 15th), closing at US$12,741/ton. The spot price also hiked by US$75.55/ton to US$12,673.5/ton.
Meanwhile, LME’s market inventory of nickel was kept flat at 232,878 tons. The cumulative decrease in June was 300 tons.
According to market participants, nickel prices went up yesterday while China’s stainless steel futures and spot prices went weakly. Coupled with the possible second round of the COVID-19 epidemic in China with concerns on demand, it was expected that nickel prices won’t be too strong in the short term.
