LME nickel price rebounds for 2 consecutive days on lower inventory
Time:Tue, 21 Jun 2022 09:19:58 +0800
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LME nickel futures closed at US$25,738/ton yesterday (June 20), a hike of US$69, the increase for two consecutive days. The spot price also rose by US$89 to US$25,670/ton.
Meanwhile, LME nickel inventory decreased by 12 tons, coming to 68,856 tons. The cumulative decrease this month has totaled 2,862 tons.
China’s stainless steel futures finally rose back yesterday. Coupled with a slowdown in Shanghai nickel price drops and the continued decline in inventories, nickel prices have risen for two days in a row. Nickel prices are now in a stronger trend.
