Nickel Price OutlookNickel prices slumped over the past month, reflecting fears that the rapid spread of the coronavirus will dampen global demand. On 13 March, nickel traded at USD 12,271 per metric ton, which was down 7.1% from the same day in the previous month. The price was down 6.5% from the same day a year ago and was 12.0% lower on a year-to-date basis. The rapid spread of the coronavirus outside of China put further downward pressure on nickel prices in recent weeks. The World Health Organization’s declaration of the novel coronavirus as a global pandemic on 11 March dampened investor sentiment amid concerns over global metal consumption and crimping global economic growth. Moreover, the U.S. government’s announcement on 11 March to ban all travel from Europe soured market sentiment further. Meanwhile, stocks have continued to build at the London Metal Exchange: At the beginning of March, inventories had climbed to 236,106 tons--the highest level since September 2018—and more than tripled since December last year.
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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