Welcome to the nickel miners news for November. The past month saw nickel prices lower despite LME inventories falling further to only 66,820 tonnes.
Nickel price news
As of November 28, the nickel spot price was USD 6.38, down from USD 7.66 last month. LME inventories fell again to very low levels (now 67kt) reaching a 10-year low. Chinese stainless steel companies have been building up their nickel inventories in preparation for the 2020 Indonesia ore ban.
Nickel spot prices - 5-year chart - USD 6.38/lb
Source: InfoMine.com
London Metals Exchange [LME] - Nickel