[SMM Stainless Steel Flash] LME Nickel Prices Rebound to Above US$17,200 Level

Published: Apr 14, 2026 09:31

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LME nickel futures rebounded last Friday (April 10), closing at US$17,241/ton for a 0.9% weekly gain. The recovery was supported by a weakening US dollar, a stable Middle East ceasefire, softer-than-expected US inflation data, and firmer Chinese stainless steel futures. Despite the US$153 daily gain, April's average price remains below March levels. LME inventories edged up to 281,670 tons, rising 144 tons (+0.051%) since April. While higher nickel ore costs offer some price support, the market remains well-supplied. With weak stainless steel and new energy demand in China, nickel prices are likely to stay volatile in the near term.

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