London Metal Exchange (LME) nickel futures maintained a strong position above US$18,900 per ton yesterday (May 27), despite a brief downward correction from an intraday peak of US$19,170.
The closing price settled at US$18,943 per ton, demonstrating resilient support for three consecutive trading sessions. Meanwhile, LME inventories dropped by 822 tons to 278,064 tons.
Strong market factors support this performance, including new mining limits in Indonesia and new vehicle safety policies in China that boost metals demand. Although a strengthening US dollar and geopolitical uncertainties caused prices to pull back slightly after testing the US$19,000 threshold, nickel’s broader upward momentum remains intact.
The metal retains a substantial year-to-date growth of 13.8%, with May averages remaining substantially higher than April levels.