London Metal Exchange (LME) nickel futures rose to settle at US$17,193 per ton, pushing the 2026 year-to-date increase to 3.3% or US$547. Spot prices also increased to US$16,995 per ton, and the August average reached US$16,934 per ton.
At the same time, LME-monitored inventory remained flat at 264,870 tons after a 3% decline in July.
Stable United States employment data and expectations regarding upcoming diplomatic talks between Washington and Middle Eastern authorities lifted base metals broadly.
Market participants said that Indonesian nickel mining output restrictions and declining inventories provide solid support to prices, though weak demand keeps the market in a narrow range.