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|LME Ni Average Price in January Down by 9% from Prior Month|
|= Inventory level is up and rises to 382,290 tons at end of month =|
LME monthly average nickel price in January 2016 was <> Cash seller: US$9,984.29 per ton (US$4.529 per lb) and <> 3-month seller: US$10,039.76 per ton (US$4.554 per lb). When compared with the average price in December, the prices for cash seller and 3-month seller were down by 9.1% and down by 9.4% respectively. (Hereinafter, the price is per ton) |
LME nickel price in January (cash seller) dropped back from the rising trend in early part of the month, and dropped by a large margin in the middle and late month, and rebounded for 2 last days at the end of the month, but could not return to the level at the beginning of the month. For this reason, the price movement from the beginning to the end of the month was being down by US$315 for cash seller and being down by US$320 for 3-month seller, but the monthly average resulted in being down by more than 9% from the prior month.
For reference, the inventory level at LME designated warehouses shows an upward trend and the one at the end of the month (at the time of trade closing on January 30) was 382,290 tons, up by 10,224 tons from the end of last month. This marked a 4-month consecutive increase.
The trends in the monthly average price and month-end inventory level are as shown in the table below.
|last modified : Wed 08 Feb, 2017 [12:06]|