The Downtrend for LME Nickel Ended Temporarily in October

  • Friday, October 10, 2014
  • Source:ferro-alloys.com

  • Keywords:LME nickel price, fresh low, downtrend
[Fellow][Ferro-Alloys.com]The LME nickel price hit a fresh low for the last six months on October 1st at $15,869/mt, and then the price stopped to drop. To October 9th, the price rose by around 2 percent, which reflected that the downtrend for LME nickel price ended t...
[Ferro-Alloys.com]The LME nickel price hit a fresh low for the last six months on October 1st at $15,869/mt, and then the price stopped to drop. To October 9th, the price rose by around 2 percent, which reflected that the downtrend for LME nickel price ended temporarily. On October 9th, the price once reached $16,843/mt but failed to remain at this level, and it closed at $16,600/mt.
 
The price declined sharply in September from about $20,000/mt to $16,000, and on the month chart, it seems that the downtrend would probably continue. However, the price would vibrate between $16,000/mt and $17,000/mt in the coming week on the day chart.
 
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