LME nickel price keeps increasing
In February, the average nickel prices for spot and 3M futures stood at US$12,649.75/ton and US$12,723/ton, up by 10.4% and 10.6% month on month respectively.
Since the beginning of this year, the LME nickel price enjoyed a pick-up all the way. Although the 3M futures price kept going up and down slightly, thanks to the moderate trade dispute between the US and China, the market investment mentality was optimistic and the purchase of non-ferrous metals including nickel was still good, which would help nickel to go up further.
In addition, the LME nickel inventories continued to decrease. The current nickel inventories have fallen again, reaching 194,622 tons, sharply dropping from the end of last year.
