The price of nickel fell to a minimum in 7 months

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During trading on Tuesday, the price of three-month contracts for nickel on the London Metal Exchange fell by 1.8% to the lowest since January mark of 12 thousand 565 dollars per ton. The decline in nickel prices has been observed for five consecutive days. Bloomberg notes that nickel ore reserves in China have reached the most significant volume since December 2016. In addition, non-US buyers of raw materials are being pressured by the US dollar rally. The price of copper on Tuesday fell by 1.4% to the minimum since mid-August value of 5 thousand 881.5 dollars per ton. Nickel has fallen in price by 1%, aluminum - by 0.4%.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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