LME nickel prices rebound to over $15,900 level
Views : 84
Update time : 2024-11-21 15:56:55
LME nickel futures prices rebounded to US$15,906 yesterday (November 20), driven by the recovery in demand for stainless steel in China, but the rebound in the US dollar index limited the increase.
Yesterday's spot price rose simultaneously by US$43 to US$15,667/ton.
Nickel prices have recently rebounded by 2.3% and hit a new high since November 12, but they are still down by 4.2% this year.
LME nickel inventories increased by 144 tons to 159,408 tons, a cumulative increase of 8.6% in November.
Although the demand side is weak and refined nickel inventories are rising, short-term nickel prices may show a volatile trend.
