LME Nickel Continued the Down Trend of Last Week

  • Tuesday, September 16, 2014
  • Source:ferro-alloys.com

  • Keywords:LME nickel price, nickel ore
[Fellow][Ferro-Alloys.com]LME nickel price closed at $18,099/t on Monday, down 1.5% with a intraday lowest at $18,050/t.
[Ferro-Alloys.com]LME nickel price closed at $18,099/t on Monday, down 1.5% with a intraday lowest at $18,050/t. The price continued the down trend of last week when the price hit the three-month high on that Monday and then started to fall dramatically in the following three days, with the price closed at $18,426/t on that Friday.
 
The Indonesia export ban and Philippines bill for export of unprocessed mineral have tightened the supply chain of nickel ore, due to the 180,000 mt LME nickel stock increase since the beginning of 2013 and the stagnated stainless steel industry with oversupply, the price trend of the nickel is still not clear. 
 
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