1 November 2024 – Nickel prices on the LME rose significantly at the start of trading on Friday. Price increases are also being reported from Asia for almost all base metals, including nickel. And Taiwanese stainless steel producers have raised their prices for November 2024.
LME nickel prices up significantly at the start of trading
Nickel prices on the European LME rose significantly at the start of trading on Friday and were up almost 2.0% after a short time.
The base metal lead also rose by 1.4%, while aluminium and copper were somewhat more subdued and have so far tended to move sideways.
Base metals friendly at the SHFE
Base metals on the SHFE also either moved sideways today or recorded slight gains. Zinc (-1.03%) suffered slight losses, but the prices of nickel (+0.29%), aluminium (+0.29%), copper (+0.04%) and lead (+0.9%) rose slightly.
Taiwanese stainless steel producers raise prices
As expected, Taiwanese stainless steel producers have raised prices across the board for November. According to producers, the main reasons for this are increased raw material costs, higher energy prices and the current market conditions.
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