LME nickel price slightly rises stably
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Update time : 2023-07-07 17:14:46
The US labor market is strong, which triggers concerns about continued Fed rate hikes. Automatic Data Processing (ADP) data showed that the US private sector employment rose by 497,000 in June, hitting the biggest monthly increase since last February. The strong job market in the US made the nickel price slightly rise stably.
The LME nickel futures slightly rose by US$2 yesterday (July 6), closing at US$21,209/ton. The increase has reached US$693 so far this month, a hike of 3.4%. At the same time, the LME-monitored nickel inventory decreased by 96 tons, coming to 38,268 tons.
