Nickel prices bottomed out despite a global rise in pure nickel inventories
January 24, 2024
Last week witnessed a bottoming out of nickel prices, with an uptick observed during the evening session on January 10. The prices surged by approximately 3.24%, concluding at 129,420 yuan/mt by the close on January 12. The widening price gap between nickel sulphate and pure nickel was primarily driven by the increase in nickel prices, coupled with relatively minor fluctuations in nickel sulphate spot prices.
(Source: Shanghai Metals Market)
