LME’s nickel price hikes to over $24,000/ton on Mar 28
On March 28, nickel futures price at the London Metal Exchange (LME) hiked by over US$200/ton and closed at US$24,074/ton. Meanwhile, the nickel spot price soared by US$238/ton to US$23,902/ton.
At the same time, the nickel inventory at LME decreased by 96 tons, reaching 44,208 tons.
The US’ First Citizens Bank reached an agreement to acquire Silicon Valley Bank, which made the US dollar index weaken and further made international oil prices hike. These factors caused the nickel price to go up.
