Nickel prices stabilize with slight increase, maintaining $21,000/ton
Time:Mon, 12 Jun 2023 09:00:06 +0800
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International nickel prices stabilized last Friday (June 9), ending the downward trend as LME nickel futures rose by over US30, remaining above the US$21,000/ton level.
China’s tax-free new energy vehicles policy strengthened stainless steel futures in China, and a decline in pure nickel inventories contributed to the reversal from a downward trend to a slight increase in nickel prices.
However, with the slow destocking of stainless steel inventories in China and weak market demand, coupled with increased nickel supply from Russia, nickel prices may experience slight fluctuations in the short term.
