[SMM Stainless Steel Flash] LME Nickel Prices Rebound Past USD18,900, Snapping Two-Week Losing Streak

Published: May 26, 2026 11:15

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LME nickel futures closed at USD18,913/ton on May 22, gaining 2.3% on the week and snapping a two-week losing streak, supported by a stabilizing US dollar and Trump's persistent calls for Fed rate cuts. LME inventories dipped 600 tons to 279,072 tons, with May's average price of USD18,815 remaining above April levels. Near-term outlook stays uncertain, however, as record-low US consumer confidence and weak Chinese stainless steel demand during the late-May rainy season create headwinds. Market participants expect subdued and volatile trading ahead, though tight nickel ore supplies should provide a price floor.

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