Nickel traded around $16,900 per tonne, extending gains from the previous session and tracking broader strength across industrial metals. Copper prices remained near fresh record highs, reinforcing continued strength across the industrial metals sector. Battery-sector demand also showed signs of improvement, with recycled nickel sulphate production rising nearly 6% month-on-month in August, driven by stronger ternary cathode precursor demand and a relatively high share of high-nickel products. Meanwhile, elevated nickel inventories and subdued stainless steel demand continued to cap gains. Rising rate-hike expectations also weighed on dollar-priced commodities.
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