The London Metal Exchange (LME) nickel futures price rebounded yesterday (October 15), closing at US$15,194/ton, up by US$59, while the spot price also rose by US$57 to US$14,983/ton.

The rebound was supported by a weaker US dollar and increased expectations for a Federal Reserve (Fed) rate cut later this month, despite ongoing US-China trade friction concerns.

However, sustained pressure remains as LME monitored nickel inventories increased by 3,498 tons yesterday, reaching 246,756 tons. Since October, total inventory accumulation totals 15,444 tons, an increase of 6.67%.