Nickel prices rebound amid China’s economic stimulus announcements
Time:Wed, 25 Dec 2024 09:46:28 +0800
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The London Metal Exchange (LME) nickel futures price increased by US$185/ton and closed at US$15,477/ton on December 24. Meanwhile, the nickel spot price also grew by US$197/ton to US$15,257/ton. The nickel inventory at LME reversed to decrease by 1,020 tons to 162,048 tons.
The US Dollar Index saw a slight increase, maintaining its strength. Meanwhile, the Central Financial Work Conference held in Beijing announced plans to intensify economic stimulus efforts, including an extension of the trade-in policy. Coupled with rising nickel inventories in the LME market, nickel prices experienced a rebound. The market expects short-term fluctuations in the coming period.
