Nickel index refers to the nickel futures index traded on the London Metal Exchange, and LME nickel now refers to the spot nickel in London.
London Metal Exchange (LME) is the largest non-ferrous metal exchange in the world. The price and inventory of LME have an important influence on the global production and sales of non-ferrous metals. /kloc-In the middle of 0/9th century, Britain was the largest producer of tin and copper in the world.
With the passage of time, the industrial demand is increasing, and Britain urgently needs to import a large number of industrial raw materials from foreign mines. Since the beginning of this century, the London Metal Exchange has publicly released its trading price, which has been widely used as the benchmark price of world metal trade. 70% of the global copper production is traded according to the official quotation published by the London Metal Exchange.