Nickel extends gains above $30,000 a tonne
5 months ago

Nickel prices rose on Thursday as the dollar lost ground against most major rivals ahead of estimates for higher demand on commodities and minerals. 


Covid 19 infections continue to spread in a number of Chinese cities, hinting at a new potentially destructive wave that could harm the economy once more. 


The Chinese government recently announced incoming travellers wouldn't need to quarantine when reaching the country starting 2023. 


China is the world's largest industrial metals consumer, and another Covid 19 wave could tank demand on such commodities. 


The dollar index fell 0.4% to 104.1 as of 15:40 GMT to 104.01, with a session-high at 104.4, and a low at 103.8. 


Nickel spot prices rose 3.1% to $30.5 thousand as of 15:51 GMT. 

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