Nickel prices are rising

London Metal Exchange LME recorded an increase in nickel price to the level of US $ 10,500 /t in early February. Trading data reached about US $ 11,000 /t during the past week, up 4.4% from the previous week. In addition, nickel prices were up 5.2% from the previous month.

With China's steel mills gaining momentum after the holidays, nickel prices will gradually rise. Some analysts believe that nickel stocks will decline depending on the growth of demand in the market. There is a possibility that nickel prices are set to surpass the US $ 11,000 /t mark this week.