Nickel sheets

Nickel Price Outlook

Nickel prices retreated over the past month, returning closer to fundamentals after a record rally in March. Prices averaged USD 33,134 per metric ton in April, which was 12.0% lower than March's price of USD 37,652 per metric ton. The average price for nickel was up 100.9% from the same month last year. Moreover, on 29 April, nickel traded at USD 31,722 per metric ton, which was down 1.2% from the same day of the previous month. Nickel prices declined on average in recent weeks, after panic buying and short-covering among investors drove an unprecedent rally which saw prices hit a record of more than USD 100,000 per metric ton in early March. Despite the fallback, nickel prices remained generally elevated in April, thanks to a tight supply backdrop. With Russia being the world’s third largest producer of nickel, the war in Ukraine and associated international sanctions kept global supply and inventories tight, thus boding well for prices. Notably, however, Russia’s Norilsk nickel saw output jump 10% in Q1, alleviating some supply worries and keeping a lid on prices. Similarly, flagging global GDP growth and Covid-19-related lockdowns in China boded poorly for demand and thus nickel prices in April.

Nickel Price History Data (USD per metric ton, aop)

2015  2016  2017  2018  2019  
Nickel 11835.3  9596.5  10414.13  13110.42  13917.88  

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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Nickel Historical Price Chart


Nickel historical price chart
Note: Nickel prices in USD per metric ton (mt). Daily prices.

Sample Report

Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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