Nickel prices fall as stronger dollar weighs

Nickel prices fell on Wednesday, as the US dollar rose against its major peers.

Investors are focused on the progress in the $1.2 trillion US infrastructure spending agreement.

Analysts project to be lifted by heavy Chinese purchases and the recovery of the global economy from the Covid-19 pandemic repercussions..

Bearing in mind that nickel is used heavily in the steel industry, and recently has attracted strong demand from the electric vehicle industry.

The dollar index rose against a basket of currencies by 0.2% to 92.2 points as of 13:51 GMT, after it hit a high of 92.2 points and a low of 92 points.

As of 13:57 GMT, nickel spot futures fell 0.1% to $18,362.2 per tonne.