Nickel Price OutlookNickel prices neared three-month lows in mid-May as improved supply and renewed anxieties over the U.S.-China trade war, as well as over the slowing Chinese economy, weighed on prices. On 11 May, nickel traded at USD 11,885 per metric ton, which was 9.5% lower than on the same day in April. The price was 14.0% lower than on the same day a year ago but was up 12.1% on a year-to-date basis. China drove the narrative in recent weeks. Nickel’s supply deficit continued to narrow as Chinese suppliers loaded the market with low-grade nickel pig iron, knocking prices in turn. Chinese growth, meanwhile, continued to weigh on investors’ minds despite the unexpectedly-strong first quarter; of particular relevance, stimulus measures could soon get scaled back following the upbeat economic outturn. U.S.-China trade talks, moreover, only appeared to compound matters in early May as nickel prices continued to retreat in light of the tense negotiations and investors’ concerns over additional tariffs.
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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