LME nickel price on March 4 was going up throughout the day and both cash settlement and 3-month seller exceeded US$15,000 per ton at the time of trading in the afternoon market. This high level is for the first time in about 9 months since 7 June 2013.|
The nickel market on this day was in the steady undertone because of the hope that the restructuring program for state-owned firms will be announced in the National People's Congress of the People's Republic of China (NPC) which will start on March 5. Furthermore, as President Putin expressed his way of thinking regarding the matter of Ukraine that the use of force will be the last resort, the worry about military clash has receded and a risk appetite for the forward quotation has been enhanced.
For that reason, while the stock price has risen worldwide, the price of nickel also has risen together and the prices for cash settlement and 3-month seller have gone up to US$15,045 and US$15,080 respectively at the time of trading in the afternoon market.