Nickel price increases to new record high in one year

LME nickel price hiked sharply these days. The nickel price reached over US$14,000/ton last night, which was the highest price level since July 2018. 

Taiwanese stainless steel mills will announce their new prices for August after two weeks. If nickel remained at a high level, it would have room for the price up in the range of NT$3,000/ton to NT$4,000/ton. 

According to understanding, the Indonesian government announced the prohibition of mining planning, and the Philippines government also started the investigation on mining industry recently. 

Stimulated by these factors, LME nickel price boosted to the highest level in one year.