The London Metal Exchange (LME) nickel futures remained stable yesterday (January 22), closing at US$17,996/ton. Although the intraday price peaked at US$18,175, it settled unchanged from the previous session. This stability was supported by a weaker US dollar and strong American economic data, which helped offset high inventory pressures.

In spite of a monthly inventory increase of 11.49%, current prices have risen by 8.1% since the start of the year. Market participants said the current environment is strong expectations but weak reality, with low trading volumes persisting despite high prices. This pattern indicates that speculative sentiment is driving the market, potentially leading to continued price fluctuations in the short term.