LME nickel prices rise on weaker dollar, despite inventory surge
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Update time : 2025-09-05 15:36:06
The London Metal Exchange (LME) nickel futures price rebounded yesterday (August 3), rising to above US$15,300/ton. The turnaround was driven by weaker-than-expected US jobs data, which fueled speculation of an earlier interest rate cut by the Federal Reserve and a subsequent weakening of the US dollar.
The nickel price closed at US$15,304/ton, an increase of US$72 from the previous day. The spot price also rose by US$70, settling at US$15,117/ton. However, the price gains were limited by a significant increase in LME nickel inventories, which jumped by 3,996 tons to a total of 214,230 tons.
Market participants expected that the growing nickel inventory may cause prices to fluctuate in the short term.
