Base metals on the London Metal Exchange ended mostly higher on Friday June 22, mounting a sustained fightback against the week-long dollar rally that fueled downward momentum across the complex.
Nickel's three-month price finished above $15,000 per tonne and up 5% on its weekly low of $14,580 per tonne on June 19.With price rises supported by a downtrend in LME inventories - they are at their lowest since March 2014 at 274,476 - its fundamentals indicate healthy consumption in the near term. "There are expectation of huge nickel demand on the horizon by the mid-2020s and beyond, predominantly from the electric vehicle sector," Daniel Briesemann, analyst at Commerzbank, told Metal Bulletin. "This might...