Nickel Price OutlookNickel prices continued to climb at the outset of March, in line with the overall price trend seen recently for other base metals. On 8 March, nickel traded at USD 13,004 per metric ton, which was 4.1% higher than on the same day a month earlier. Although the price was up 22.6% on a year-to-date basis, it was 1.6% lower than on the same day last year. Nickel prices maintained an upward trend over the past month as Brazilian miner Vale, one of the leading producers of nickel, remained mired in controversy over a devastating blast at the tailings dam at the Córrego do Feijão mine. This prompted Moody’s to downgrade Vale’s credit rating to junk status and concerns over its operations and tightening supply pushed up prices. Moreover, prices rose on Chinese steel mills replenishing their stocks of stainless steel, as nickel is used in the production of steel. Meanwhile, a continued slide in nickel inventories at London Market Exchange warehouses also exerted upward pressure on prices.
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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