LME nickel price goes up on Apr 17, price expected to fluctuate in short term
Recently, China's stainless steel prices went up greatly, the sale performance of electric vehicles recovered, the real estate industry resumed, and the global inventory of refined nickel was low. These factors made nickel prices go up again. Market participants expected that the nickel prices would fluctuate on the high side in the short term.
On April 17, nickel futures price at the London Metal Exchange (LME) increased by US$90/ton, closing at US$24,690/ton. Meanwhile, the nickel inventory at LME increased by 366 tons to 41,490 tons.
