Daily LME nickel prices fell below US$25,000 per tonne, in late February. The monthly average ffgure dropped by more than 5 percent, from the January level. A stronger US dollar is negatively affecting commodity values. The International Study Group reported a large surplus in the global nickel market, last year. This is expected to be repeated, in 2023. Nevertheless, stocks held in LME warehouses halved during 2022. Many people question the relevance of these ffgures. The LME will ffnally return to Asian trading hours for nickel, on 20 March 2023, following a suspension in March 2022. How this will affect the waning conffdence in the LME, or the prices going forward, is yet to be known. Fundamentals indicate that nickel prices will continue to fall, in the near term.
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