9 August 2024 – Nickel prices in Asia rose by up to 2.5% in some cases on Friday. Nickel prices are also rising on the LME today. And after a significant improvement in sentiment on the US stock markets on Thursday, the Asian markets followed suit on Friday.
Nickel futures on the Asian commodity exchange SHFE rose by 2.3% (ni2409) to 2.5% (ni2408) on Friday. Chinese spot market prices for nickel also improved by around 2.5%.
On the London Metal Exchange (LME), the nickel price rose by around 1.6% shortly after the start of trading.
After share prices on the US stock exchanges had already recorded gains on Thursday due to good labour market data, the Asian stock exchanges followed suit on Friday. The Nikkei 225, TOPIX, KOSPI and Hang Seng ended the trading day up by more than 1.3% in some cases. The Dow Jones Industrial Average rose by 1.8% on Thursday, the S&P 500 by 2.3% and the NASAQ Composite by as much as 2.9%.
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