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Nickel prices remain stable at $20,000/ton level

3 Dec 2021 16:39 reported by Joy Liu

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The LME nickel futures price hiked slightly by US$14 yesterday (December 2), closing at US$19,960/ton. The current average nickel price this month is at around US$20,000/ton.

Despite the US’ strong economy, which continued to drive the US dollar, nickel prices have kept stable due to the tight nickel supply, dropping refined nickel inventories, and the optimistic demand for new energy vehicles.

According to market participants, nickel prices have fluctuated slightly since this month due to concerns about the new variant virus Omicron. Therefore, the short-term trend of nickel prices will still be under observation.

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