On February 8, nickel futures price at the London Metal Exchange (LME) hiked by over US$100/ton and closed at US$27,390/ton. Meanwhile, the nickel spot price increased by US$149/ton to US$27,192/ton. At the same time, the nickel inventory at LME went down by 529 tons to 49,188 tons.

The US Dollar Index (USDX) weakened and then turned stable. Also, the nickel stocks kept decreasing. These factors made the nickel price rebound.

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