LME nickel prices on Oct 2 rebound on Fed rate cut expectations amid oversupply & weak Chinese demand
Time:Fri, 03 Oct 2025 09:29:43 +0800
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The London Metal Exchange (LME) nickel futures price on October 2 rebounded to increase by US$133/ton and closed at US$15,317/ton. The spot price also moved higher, adding US$146.5/ton to reach US$15,130.5/ton.
Although the U.S. dollar turned higher, weak U.S. employment data has led the market to expect two Federal Reserve rate cuts before the end of this year, with more than a 90% chance of a cut this month.
Excess supply of refined nickel and weak demand in China amid the ongoing National Day holiday indicated that short-term prices are likely to experience only modest fluctuations.
