News and Events

LME nickel futures closed at US$25,738/ton yesterday (June 20), a hike of US$69, the increase for two consecutive days. The spot price also rose by US$89 to US$25,670/ton. Meanwhile, LME nickel inventory decreased by 12 tons, coming to 68,856 tons. The cumulative decrease this month has totaled 2,862 tons. China’s stainless steel futures finally rose back yesterday. Coupled with a slowdown in Shanghai nickel price drops and the continued decline in inventories, nickel prices have risen for two days in a row. Nickel prices are now in a stronger trend.