Nickel Price OutlookNickel prices reversed course at the outset of the year amid a broader commodity-sector upswing, posting healthy gains as investors were encouraged by a momentary easing of geopolitical tensions. Supply-side fundamentals also looked to have played a role, with inventories falling worldwide. On 11 January, nickel traded at USD 11,414 per metric ton, which was 6.7% higher than on the same day a month earlier and was up 7.6% on a year-to-date basis. However, the price was 9.2% lower than on the same day last year. End-of-year losses were replaced with nascent gains at the turn of the year despite tepid demand for the base metal. Hopes for an eventual resolution to the U.S.-China trade war rose in recent weeks as inflammatory rhetoric gave way to the prospect of fresh negotiations, likely supporting prices. Moreover, inventories of the base metal continued to trend lower as, in China’s case, stainless-steel mills restocked ahead of the Chinese New Year holiday.
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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