Nickel Price OutlookNickel prices recovered some lost ground at the start of April, after falling at the end of March. On 13 April, nickel was trading at USD 13,897 per metric ton, which was up 0.5% from the same day in March. Overall, nickel prices are well above last year’s levels thanks to strengthening global growth and buoyant demand. The price was 9.4% higher on a year-to-date basis and was up 43.3% from the same day last year. The strengthening in nickel prices over last year’s lows is being driven by solid global demand as well as declining inventories. Increasing demand for electronic vehicles, which use batteries with a higher nickel content, is supporting prices for nickel. In addition, a bright global growth picture is helping shore up demand. Meanwhile, a sustained deficit in nickel has reduced inventories and put upward pressure on prices from the supply side. Recent data revealed that stocks of nickel held in London Metal Exchange warehouses fell by double-digits in Q1, continuing a downward trend. Moreover, a subdued outlook for production is also fueling upward pressures on prices after the world’s largest nickel producer, Vale, announced it would reduce production this year chiefly due to maintenance programs.
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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