Nickel Price OutlookNickel prices soared in the past month amid robust demand dynamics. On 6 November, nickel traded at USD 15,321 per metric ton, which was 5.8% higher than on the same day in the previous month. Meanwhile, the price was 5.9% lower than on the same day a year ago but was up 9.8% on a year-to-date basis. Nickel prices climbed markedly in recent weeks, reaching the highest level since November 2019 in mid-October, bolstered by solid demand from stainless steel mills in China and Indonesia. Moreover, base metals overall were boosted by healthy growth in top consumer China, with GDP logging a 4.9% year-on-year expansion in the third quarter (Q2: +3.2% yoy) and industrial production growing strongly in the last month of Q3. On the supply side, scheduled expansions of output capacity in Indonesia were delayed until next year, which increased concerns over supply tightness and pushed prices further upwards.
Nickel Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Nickel Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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