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[Ferro-Alloys.com]LME nickel price dipped sharply on Wednesday, Dec 17. The price kept stable in Asian trading hours, and the price declined sharply in European trading hours while it rebounded during the American trading hours. LME nickel price on Wednesday ended with an intraday high at 16050 and low at 15365, closing at 15671, down 2.06%.
The price has broken the uptrend channel under the pressure of MA89 on the day chart and the MA89 reached 16829. In the meantime, LME nickel stock remained above 400k tonnes, which kept high level in history. It is expected that the LME nickel price would be in a downtrend channel in the coming weeks.
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