LME Nickel extended gains heading into June to trade at a 3-month high of $18,100, fueled by the announcement of a US$ 6 trillion infrastructure spending plan by the White House on May 27th. On the supply side, the world’s leading refined nickel producer, Nornickel projects a 2021 market surplus of 52,000 tonnes, sharply below its prior forecast of 90,000 tonnes. On the demand side, prices have been pushed up by stronger demand from the nickel-based stainless steel market in China and from the EV industry.