13 January 2025 – Nickel prices on the SHFE and LME have risen in the past week. Prices on one commodity exchange in particular rose. According to US media reports, the impending strike by US dock workers in mid-January 2025 was averted.
US: Impending strike by port workers averted
According to various US media reports, an impending strike by the International Longshoremen Association (ILA) has apparently been averted.
Negotiations between the ILA and the United States Maritime Alliance (USMX) indicate that a provisional agreement has been reached on the outstanding issue of automation. Although the ILA members still have to vote on the outcome, both sides are already expected to approve the agreement.
Nickel prices on the commodity exchanges are rising
Nickel prices on the Asian commodity exchange SHFE rose by 2.3% last week compared to the previous week and were able to continue this increase by a further 1.9% today, Monday. The rise in nickel prices on the LME was even more pronounced at around 4.3% week-on-week. At the start of trading on Monday, the LME 3-month nickel price rose again by 1.5%.
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