The London Metal Exchange threemonth nickel price is likely not reflective of more bearish physical fundamentals, and instead is caught up in moves driven by global stimulus, according to S&P Global Market Intelligence nickel analyst Jason Sappor June 29. Speaking with S&P Global Platts, both part of the same family of businesses, Sappor said that earlier in June the LME three-month nickel price had tested $13,000/mt a few times, hitting a a high of $13,115/mt on June 6, as stimulus measures increased investor optimism over a global economic recovery from the coronavirus pandemic.
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