It feels there is something supernatural…considering the steelmakers’ dull scrap demand, even if nickel prices exceeded $17,000, dynamic market moves would be unlikely.
At the end of last week on the 30th, or toward the month end, LME nickel prices skyrocketed on Indonesia setting December as the start of nickel ore export ban from the initial 2022. In one shot prices creeped up above $17,500 and surged near $18,000.
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