Nickel futures dropped to $15,960, hitting a 5-week low amid ample supply. Indonesia, now producing over half of the world’s nickel, has significantly ramped up output in recent years, driving prices down and forcing closures of producers elsewhere.
Nickel Price
![Nickel at 5-Week Low [05 September 2024]](https://www.goldsilverreports.com/wp-content/uploads/2019/09/Nickel-base-metals-gsr.jpg)
MCX Nickel Target 920 Full Hit 855 to 927 Enjoy – Neal Bhai Reports
MCX Nickel Target 920 Full Hit 855 to 927 Enjoy – Neal Bhai Reports
MCX Nickel Trading Tips : MCX Nickel Target Level 900—920, Above 800 Level Any Panic buy
Copper MCX Price Target 408—413 – Any Big Panic Buy And Sleep – Neal Bhai
Copper MCX Price Target 408—413 – Any Big Panic Buy And Sleep – Neal Bhai
Shanghai copper prices rose to a near four-week high on Monday as supply worries rose following a fall in inventories and suspension of operations in major producer nations.
Nickel Rally Fades, Electric Vehicle Buzz doesn’t
Last week’s rally to a five-month high of $13,350 per tonne on the London Metal Exchange has gone into sharp reverse. Nickel was trading back at $12,385 on Tuesday.
Nickel MCX Free Tips: Ultimate Target ₹ 842— ₹ 800 – Wait For Any Upside, Need Patience – Neal Bhai Reports
Market concerns over a trade war and a surge in supplies also weighed on the contract. While broad risk-off sentiment continued to affect commodity investment, volatile emerging market currencies and renewed trade disagreements added further downward pressure to the base metals complex, while equity markets continued to trail lower against the surging dollar.