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After a sharp correction mid January which had pushed the nickel price on the London Metal Exchange (LME) from over USD 24,000.00/mt down to just below the USD 22,000.00/mt mark, a clear recovery started again.

Full order books, little scrap, political unrest in Kazakhstan, one of the main chrome producing countries, and the completion of a company acquisition whereby a large European producer takes one of the three big stainless steel scrap recyclers on board.

In a publication, the investment bank, JP Morgan mentions that it finds the industrial metals complex somewhat uninspiring at the moment, now that the quieter part of the year is approaching.

The prices for nickel on the London Metal Exchange (LME) continue to be well supported and if it was just a matter of the parameters of the nickel market, a continuation into the new year would be everything else but excluded.

The nickel price on the London Metal Exchange (LME) lost some ground recently. After the high in the middle of September of just short of USD 20,500.00/mt, the 3 months price took a rapid fall.

Despite generally weaker economic data, weaker stock markets and increasing fears that central banks may tighten the reins on ultra-loose monetary policy in the long term, nickel on the London Metal Exchange (LME) and Shanghai Futures Exchange (SHFE) continues its upward trend undeterred.