Nickel, traded on the London Metal Exchange, rose 2.5% to $20,205 a tonne, while aluminum rose 1.6% to $2,837.50 a tonne after touching $2,848, its highest level since 2008. .

The price of nickel traded on September 10 rose to the highest level since 2014 due to increasingly depleted stockpiles and strong demand.
Other industrial metals also rose and aluminum hit a 13-year high on supply concerns.

Accordingly, the price of Nickel traded on the London Metal Exchange increased by 2.5% to 20,205 USD / tonne after touching 20,280 USD, the highest level since May 2014.

Nickel is used in stainless steel and in the production of batteries that power electric vehicles, and demand for the metal is expected to grow.
“The demand side is pretty strong (and) supply is tight due to earlier lockdowns, especially in places like Indonesia,” said independent analyst Robin Bhar. “We have seen stocks in London and Shanghai draw down on expectations that nickel will rise above its 2014 peak of $21,625,” he added.
Stocks in warehouses of the Shanghai Commodity Futures Exchange fell to 181,368 tonnes from more than 260,000 tonnes in April.
Stocks in Shanghai Commodity Futures Exchange – at less than 6,000 tonnes – are down from about 30,000 tonnes compared with 2020.
On the London bourse, aluminum prices rose 1.6% to $2,837.50 a tonne after touching $2,848, the highest level since 2008.

Copper rose 1.6% to $9,393 a tonne, zinc rose 0.4% to $3,075.50, lead rose 0.9% to $2,298 and tin rose 3.7% to $33,410.

Futures trading price list of some metals on Shanghai floor (Unit: yuan/ton).