LME nickel price surges again on Sep 2
Views : 378
Update time : 2020-09-03 22:37:52
The three-month futures price of nickel on the London Metal Exchange (LME) surged again by US$172/ton yesterday (September 2), closing at US$15,706/ton, which has soared by eight months in a row. The spot price also sharply rose by US$168/ton to US$15,675.75/ton.
Meanwhile, LME’s market inventory of nickel decreased greatly by 1,386 tons to 237,336 tons. The cumulative increase of this month was 1,638 tons so far.
According to market participants, nickel prices continued increasing due to tight supply, higher stainless steel output in China, and rebounding demand. The short-term nickel price was still expected to fluctuate at a high level.
