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

Published: Jun 18, 2026 09:52

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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.

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