Nickel
Nickel futures were trading around the $27,000 per tonne mark, moving away from a seven-month peak of $31,300 hit on December 7th, as prospects of increasing global supplies dented most of the optimism about a rebound in Chinese demand. Indonesian output rose substantially in 2022, accounting for nearly 50% of the world's global supply. On top of that, Xiang Guangda's Tsingshan Holding Group, one of the world's leading producers, is also seeking to boost production in China, which could double the country's stockpiles of refined nickel this year. Such changes in the international supply dynamics sparked concerns about a fresh bout of volatility for the LME contract forcing the metal exchange to step up its market surveillance. In early March, nickel briefly topped the $100,000 mark amid a vicious short squeeze.
Historically, Nickel reached an all time high of 54050.00 in May of 2007. Nickel - data, forecasts, historical chart - was last updated on January of 2023.
Nickel is expected to trade at 29639.63 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 35521.79 in 12 months time.
Shifting Dynamics: How BHP's Bid For Anglo American Reshapes The Mining Sector
Market Dynamics Before the MergerImplications of the Proposed MergerRegional and Global Market EffectsCommodity-Specific... Read more
Gold Rush: Chinese Speculators Fuel Record-Breaking Rally
The global economy has been witnessing an unprecedented surge in gold prices, with investors seeking refuge amidst econo... Read more
Harnessing AI And Big Data: The New Frontier In Commodity Trading
In the dynamic world of commodity trading, the winds of change are blowing with increased velocity, powered by the burge... Read more
Golds Glitter In Economic Gloom: Navigating The Tides Of Inflation And Interest Rates
In the labyrinth of global finance, where inflationary pressures mount and central banks grapple with policy decisions, ... Read more
Chocolate Lovers Beware: The Rising Cocoa Prices And Their Impact On Consumer Goods
In a startling economic twist that has left both chocolate lovers and manufacturers grappling with uncertainty, the pric... Read more
Navigating New Frontiers: The Resurgence Of US Uranium Miners In A Competitive Global Market
In the shadow of the global nuclear energy revival and heightened geopolitical tensions, the US uranium mining industry ... Read more