Steel News

We strive to let you one step ahead of the market.

US inflation cool drives LME’s nickel prices

13 Jun 2024 16:53 reported by Stanley Wang

A A A
The London Metal Exchange (LME) nickel futures price increased by US$243/ton and closed at US$18,061/ton on June 12. Meanwhile, the nickel spot price also hiked by US$245/ton to US$17,808/ton. The nickel inventory at LME increased by 78 tons to 85,728 tons.

As the US inflation cooled and expectations of interest rate cuts strengthened, the US dollar reversed to weaken, thus driving nickel prices higher. However, the fundamental demand for the nickel market is still low, and market participants expect the nickel trend will be volatile in the short term.

Back to Steel News

Related News

LME nickel futures rebound on Jul 8, forecasted to fluctuate in short term

  • Stainless steel
  • 9 Jul 2024 15:45

Stainless steel futures increase for 2 consecutive weeks

  • Stainless steel
  • 8 Jul 2024 16:39

Indonesia's Tsingshan raises stainless steel export quotations

  • Stainless steel
  • 5 Jul 2024 16:11

China's stainless steel prices in Jul expected to show volatile trend

  • Stainless steel
  • 4 Jul 2024 15:30

China’s stainless steel futures keep increasing on Jul 3

  • Stainless steel
  • 4 Jul 2024 15:29

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,902.00
  • 2,967.00
  • Aluminum
  • 2,428.00
  • 2,490.00
  • Copper
  • 9,693.00
  • 9,855.00
  • Nickel
  • 16,625.00
  • 16,945.00

Learn more

Coil Exchange Center

  • 2B Coil-Aug
  • 0
  • 0
  • NO1 Coil-Aug
  • 0
  • 0
  • 2B Coil-Aug
  • 0
  • 0
  • NO1 Coil-Aug
  • 0
  • 0

Learn more