Nickel sheets

Nickel Price Outlook

Nickel prices touched five-month lows in early June as trade squabbles between the world’s two largest economies and persistent concerns over the base metal’s narrowing supply deficit continued to throw off investors. On 7 June, nickel traded at USD 11,542 per metric ton, which was down 3.8% from the same day in May. The price was down 25.3% from the same day a year ago but was 8.8% higher on a year-to-date basis. China dominated the demand narrative in recent weeks. Despite its top-performer status among base metals this year, nickel continued faring poorly in recent weeks as uncertainty over a U.S.-China trade deal reached a fever pitch. Particularly, failed negotiations and investors’ concerns over additional tariffs led the retreat. Moreover, Chinese growth continued weighing on investors’ minds despite an unexpectedly-strong first quarter. Hoping to boost electric-vehicle (EV) sales, Chinese officials unveiled new stimulus measures in early June in a bid to cushion an economic slowdown; prices jumped briefly as a consequence, as nickel is a key component of EV batteries. Supply dynamics, meanwhile, also chipped away at prices as nickel’s deficit hovered at a seven-year low.

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

2013  2014  2015  2016  2017  2018  
Nickel15022.53  16897.92  11835.3  9596.5  10414.13  13110.42  

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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.

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

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