LME nickel price rises back on May 5 due to better demand
The three-month futures price of nickel on the London Metal Exchange (LME) hiked by US$190/ton yesterday (May 5th), settling at US$12,002/ton, and the spot price also rose by US$187.5/ton to US$11,928.5/ton.
Meanwhile, LME’s market inventory of nickel sharply increased by 2,670 tons, reaching 233,304 tons. The cumulative increase in May was 2,148 tons.
According to market participants, Europe and Americans have been focusing on their economy, and better market demand pushed up nickel prices. However, China’s demand for stainless steel was still not strong. The trend of nickel prices will be based on macro factors recently.
