Tag: LME’s nickel prices crashes by 40% y-o-y amid increase in supply

Nickel prices on the London Metal Exchange (LME) have recorded a significant 43% y-o-y decline, falling to $16,274/tonne (t) in January 2024 from $28,498/t in January 2023. This drop is attributed to an increased supply of nickel from Indonesia coupled with sluggish demand. In parallel, y-o-y comparisons reveal a 29% rise in inventories stored in…