LME nickel prices continue climbing

LME nickel prices continue climbing

LME nickel prices continue climbing

The nickel spot price soared to US$16,135/ton and the nickel 3-month price climbed again to US$16,170/ton on March 24th.

As Indonesia announced to impose a ban on nickel ore exports, China’s stainless steel mills started to conduct restocking. China, the world’s largest stainless steel producer, consumes about 50% of world nickel demand.

The nickel prices have continued rising as the stocks fell. However, market insider said with high levels of nickel stocks on the LME, nickel prices may face pressure to rise.

Source: Yieh Corp.

Copyright © 2018 www.steeleaglemalta.com. All Rights Reserved. 

Facebook IconVisit Our VK page