Nickel Price OutlookPrices for nickel lost notable ground in recent weeks, largely weighed on by downbeat data and dim prospects for steel output. On 7 October, nickel traded at USD 18,264 per metric ton, which was 6.4% lower than on the same day in the previous month. However, the price was 25.4% higher than on the same day a year ago and was up 10.3% on a year-to-date basis. August data released by the World Steel Association revealed that global output tumbled for the first time since July 2020, chiefly owing to China’s production curbs in line with its emission targets. This, coupled with power restrictions at Chinese mills for stainless steel—nickel’s main end-use—further sparked concerns of waning demand from the Asian giant and weighed on prices in turn. On the other hand, in mid-September Indonesia announced a possible export tax for products with low nickel content, which, together with disrupted operations at Vale’s Onca Puma mine in Brazil, likely cushioned the fall in prices.
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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