LME nickel futures price back to over $18,000/ton on Apr 17
Time:Thu, 18 Apr 2024 09:00:06 +0800
keywords :
The London Metal Exchange (LME) nickel futures price soared by US$512/ton and closed at US$18,238/ton on April 17. Meanwhile, the nickel spot price hiked by US$498.5/ton to US$18,049/ton. The nickel inventory at LME dropped by 1,092 tons to 73,572 tons.
China’s Gross Domestic Product (GDP) in the first quarter increased by 5.3% year on year, which is better than expected. The market prospects are optimistic. Meanwhile, the US dollar became weaker, and LME’s nickel inventories kept decreasing, which further drove nickel prices.
