[SMM Stainless Steel Flash] Weakening US Dollar and Geopolitical Optimism Propel LME Nickel to Weekly High

Published: Jun 18, 2026 09:52

Save

LME nickel futures rose for a fourth consecutive session, rebounding toward US$18,000/ton. Growing expectations of a Middle East peace accord pushed oil prices to a three-month low, easing global inflation concerns and weakening the US dollar, lifting nickel to a weekly high. Fed rate hold expectations for this month added further support, paring some of June's earlier losses. LME nickel inventories rose 942 tons to around 27.5mt. However, sluggish seasonal demand and elevated stockpiles exceeding 270,000 tons cap near-term upside, pointing to a volatile, range-bound outlook in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

48 mins ago

SMM Data: Indonesian MHP Nickel, Cobalt, and High-Grade Nickel Matte FOB Prices Surge Up to $82/mt Ni

According to SMM data, on June 18, the FOB price of Indonesian MHP nickel rose $82/mt Ni from yesterday, the FOB price of Indonesian MHP cobalt rose $20/mt Co, and the FOB price of Indonesian high-grade nickel matte rose $82/mt Ni.

48 mins ago

50 mins ago

[SMM Nickel Intermediate Product Daily Review] June 18 MHP and high-grade nickel matte nickel and cobalt prices rise

As of now, the FOB price of Indonesian MHP nickel is $16,326/mt Ni, and the FOB price of Indonesian MHP cobalt is $51,353/mt Co. The MHP payables (against SMM battery-grade nickel sulphate index) are 86-87, and the MHP cobalt payables (against SMM refined cobalt (Rotterdam warehouse)) is 95. The FOB price of Indonesian high-grade nickel matte is $16,412/mt Ni.

50 mins ago

58 mins ago

SMM Battery-Grade Nickel Sulphate Price Drops by 50 Yuan/mt on June 18

According to SMM data, on June 18, the SMM average battery-grade nickel sulphate price dropped by 50 yuan/mt from the previous day.

58 mins ago