LME nickel price rises back on optimistic outlook of economy
The three-month futures price of nickel on the London Metal Exchange (LME) rebounded greatly by US$201/ton yesterday (March 15), closing at US$16,214/ton, and the spot price also surged by US$203.75/ton to US$16,168.75/ton.
Meanwhile, LME’s market inventory of nickel slightly fell by 6 tons to 260,724 tons. The cumulative increase in March has reached 9,594 tons so far.
According to market participants, due to the optimistic outlook of US economic growth and demand from China, nickel prices were driven to rebound largely. The short-term nickel price was expected to fluctuate.
