Nickel Price OutlookNickel prices have been losing ground for months amid the broader selloff among base metals, erasing gains for the year. Moreover, despite bullish prospects for nickel prices relating to the burgeoning electric-vehicle (EV) revolution, recent concerns over more ample supply of top-grade output have driven prices lower. On 2 November, nickel traded at USD 11,861 per metric ton, which was 4.5% lower than on the same day a month earlier and was down 6.7% on a year-to-date basis. Moreover, the price was 5.6% lower than on the same day last year. Investors remained cautious in recent weeks as tariffs continued to pose a substantial downside risk to China’s economy, which is the world’s largest nickel consumer. Moreover, flying in the face of abundant inventories, plans to build a new class-1 plant in Indonesia further cooled the market. Upbeat earnings reports from automakers Tesla, Inc., and Ford Motor Co., however, cushioned prices somewhat.
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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