The past month saw nickel prices continue to pull back. The big news emerging in July was the U.S government’s moves to support the EV supply chain (includes nickel) as well as new electric vehicle subsidies.

Nickel price news

As of July 29, the nickel spot price was USD 9.66, lower than USD 10.84 last month. LME shows the price at USD 21,450/tonne. Nickel inventory at the London Metals Exchange [LME] was lower the past month at 57,990 tonnes (67,116 tonnes last month).

Nickel spot price chart – Current price = USD 10.84/lb