LME nickel price surges on US-China trade talk hopes
Time:Tue, 13 May 2025 09:05:37 +0800
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The London Metal Exchange (LME) nickel futures rebounded sharply last Friday (May 9), closing at US$15,535/ton, surging by US$269. The spot price also rose greatly by US$258 to US$15,621/ton.
Nickel grew by US$324 or 2.09% last week, turning its weekly performance positive. LME nickel inventories further decreased by 642 tons to 192,670 tons.
Improved macro sentiment fueled by upcoming US-China trade talks, coupled with the Philippines' planned nickel ore export ban and continued LME stock declines, drove the nickel price surge.
Despite a strong US dollar, the anticipation of trade discussions and supply-side factors suggested a potentially volatile but firm near-term outlook for nickel prices.
