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Nickel prices rally over 45% to touch multi-year high in 2019

Unlike other base metals, demand for nickel from China, the world's biggest consumer, has not dampened during the trade war with the US.

August 20, 2019 / 10:41 AM IST

Hareesh V

Nickel, the commodity used for making alloys, has gained more than 45 percent at the benchmark London Metal Exchange (LME) since the start of 2019.

Unexpected large-scale buying by Chinese companies and supply threat from the top producer, Indonesia, aided sentiment.

Similar moves were seen in domestic prices, too, with the MCX near month futures gaining more than 50 percent to a near five-year high.