LME nickel price surges to $18,000 level on Feb 5
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Update time : 2021-02-08 16:26:12
The three-month futures price of nickel on the London Metal Exchange (LME) surged by US$454/ton last Friday (February 5), closing at US$18,100/ton, and the spot price also soared by US$385/ton to US$17,986/ton.
According to market participants, nickel prices were driven by the weaker US dollar and the news that electric vehicle manufacturer Tesla has decided to invest in Indonesia, confirmed by the Indonesian government, and it will therefore boost the demand for new energy vehicles. The nickel prices were expected to keep strong in the short term.
