Nickel falls below $17,000, despite weaker dollar

Nickel prices fell on Tuesday, despite a drop in the US dollar against its peers and optimism about global economies.

Efforts to contain the coronavirus are continuing by distributing more vaccines and imposing precautionary measures and lockdowns.

Many countries have succeeded in containing the Covid-19 outbreak, led by the US, the UK, France, China, Germany, and others.

Observers see that the distribution of millions of vaccines has helped to increase immunity and protection from the virus.

This also boosted major economies return to recovery and growth.

The dollar index fell against a basket of major currencies by 0.1% to 89.7 points as of 13:36 GMT, after hitting a high of 89.8 points and a low of 89.5 points.

Nickel spot futures fell 0.4% to $16,980.6 per tonne as of 13:46 GMT.