Trump's delay trade tariffs & optimism Russia-Ukraine ceasefire weaken US dollar, LME's nickel price increase on Feb 14
Time:Mon, 17 Feb 2025 09:14:09 +0800
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The London Metal Exchange (LME) nickel futures on February 14 increased by US$94 and closed at US$15,468/ton. Meanwhile, the spot price went up by US$96/ton to settle at US$15,259/ton. LME-monitored inventories rose greatly by 2,592 tons, reaching a total of 183,852 tons. The inventory has risen by 11,550 tons, a 5.7% increase, since the beginning of this month.
Trump's delay in implementing trade tariffs led the market to believe that their impact may be less severe than anticipated. Meanwhile, optimism over a potential Russia-Ukraine peace agreement weakened the US dollar, pushing nickel prices higher. However, with LME nickel inventories steadily increasing, short-term price movements are likely to remain volatile.
