Japan Chemical Trading Blog
Nickel Price Fall
The nickel price is falling.
The bullion price at the London Metal Exchange (LME), that temporarily increased from about USD 14,000 per ton to more than USD 20,000 in February due to the Indonesian ore supply suspension, has been in a downward trend for the last one month.
The price has fallen from the high price of USD 19,740 per ton in early September to USD 16,300, showing a 17% price decrease in one month.
A vast amount of ore from the Philippines has been supplied to China, Japan and other countries as a substitute of Indonesian ore, and it seems that it is cooling down the market sentiment.
Copper metal prices have also fallen in September.
Just as petrochemicals, a decline trend in the international market of non-ferrous metals has become apparent.