Nickel futures traded around the $21,000 per tonne mark, not far from their 10-month bottom touched on May 18th, as the outlook remained dampened, with output surpassing demand and global economic slowdown fears pressuring prices on the prospects of further monetary tightening by major central banks. The International Nickel Study Group said the nickel market faces the largest demand-supply surplus in at least a decade amid higher production from Indonesia and the Philippines. The country's output has already grown to 1.58 million tonnes in the previous year, accounting for nearly half the worldwide supply. Meanwhile, on the demand side, China's unstable recovery weighed on the sentiment. Furthermore, nickel remained the worst-performing contract on the LME so far in 2023, dropping by over 20%.

Historically, Nickel reached an all time high of 54050 in May of 2007. Nickel - data, forecasts, historical chart - was last updated on June of 2023.

Nickel is expected to trade at 20266.34 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 17980.08 in 12 months time.

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Nickel



Price Day Month Year
Coal 137.75 6.75 5.15% -18.80% -66.83%
Bitumen 3,750.00 0 0% 2.04% -21.15%
Cobalt 29,525.00 0 0% -15.47% -60.04%
Lead 2,035.50 -3.00 -0.15% -3.37% -7.75%
Aluminum 2,218.50 -25.50 -1.14% -4.38% -20.15%
Tin 25,565.00 -86 -0.34% -1.65% -28.20%
Zinc 2,296.00 7.50 0.33% -14.14% -39.53%
Nickel 20,770.00 -321 -1.52% -15.04% -29.90%
Molybdenum 51.88 0 0% -9.98% 19.26%
Palladium 1,403.58 -10.21 -0.72% -9.68% -29.25%
Gallium 1,655.00 -20.00 -1.19% -6.76% -50.23%
Germanium 9,375.00 0 0% 0.81% 6.53%
Manganese 32.00 0 0% 0% -4.48%
Indium 1,495.00 0 0% 0% 3.46%
Soda Ash 1,950.00 -30.00 -1.52% -25.00% -32.29%
Neodymium 595,000.00 0 0% 6.25% -50.21%
Tellurium 592.50 0 0% -1.25% 36.21%
Iron Ore 62% fe 107.38 1.05 0.99% -0.02% -25.85%
Rhodium 6,400.00 0 0% -18.47% -56.76%


Nickel
Nickel is mainly used in the production of stainless steel and other alloys and can be found in food preparation equipment, mobile phones, medical equipment, transport, buildings, power generation. The biggest producers of nickel are Indonesia, the Philippines, Russia, New Caledonia, Australia, Canada, Brazil, China and Cuba. Nickel futures are available for trading in The London Metal Exchange (LME). The standard contact has a weight of 6 tonnes. The nickel prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our nickel prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so. .
Actual Previous Highest Lowest Dates Unit Frequency
20770.00 21091.00 54050.00 3730.50 1993 - 2023 USD/MT Daily