LME nickel prices have continued to show a rising trend after having bottomed out at the beginning of the year like the prices as of February 4 were US$12,675 per ton for cash seller and settlement and US$12,750 for 3-month seller, and the price for cash seller made a recovery to US$12,980 and the price for 3-month seller to US$13,050 in the afternoon session on this day. It is for the first time since September 24 last year the price for 3-month seller rose above US$13,000.|
The resolution of trade friction between USA and China was seen through rose-colored glasses thanks to trade negotiations which was held in Washington around the end of January, which led to a rise in the U.S. stock market, and the shares related to technology were predominantly bought. The funds of risk-taking speculators flew into LME as well, and the prices of copper, aluminium and nickel among futures non-ferrous metals went up.
As Chine New Year holidays started from February 4, the state of being no worry about sudden wild fluctuation in the Shanghai Futures Exchange also seems to make speculators' movements activated.