Nickel Prices Advanced and Hit a High of $22,075/mt

LME nickel prices advanced and hit a high of $22,075/mt due to improved economic news. However, during the late European trading hours, risk appetite waned due to concern over the France’s banking system. In response, LME nickel prices fell sharply from high, and closed at USD 21,120/mt, down by USD 130/mt from a day earlier.

Nickel prices fell sharply as risk appetite waned due to concern over the France’s banking system Jinchuan Group cut ex-works nickel prices by RMB 5,000/mt to RMB 164,000/mt US Federal Reserves’ pessimistic expectation over economic outlook dampened investors’ confidence.

Yesterday LME nickel which opened at USD 21,500/mt and closed at $21,120/mt overnight, down by USD 130/mt from a day earlier, with the highest price at USD 22,075/mt and the lowest price at $20,936/mt.

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