LME nickel prices hit one-month high
Time:Mon, 27 Jul 2026 08:26:53 +0800
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London Metal Exchange (LME) nickel futures prices rose last Friday (July 24), climbing back above US$17,300.
The prices initially declined last week before rebounding, strengthening again on the 24th of July. The price reached a high of US$17,500 and a low of US$17,190, fluctuating by US$310, before closing at US$17,379, up US$146.
Last week, nickel prices rose by US$418, or 2.46%, marking three consecutive weeks of gains. Since the beginning of the month, nickel prices have risen by US$1,082, an increase of 6.7%, and year-to-date by US$733, or 4.4%.
Despite new US tariffs, a stronger dollar, and a higher probability of a Fed rate hike, LME nickel inventories have declined for six consecutive days.
Support from Indonesian policies and slower shipments from Philippine nickel ore have also contributed to the price surge, pushing nickel prices to a one-month high.
