Nickel Outlook

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Expert nickel market insights

Our quarterly nickel outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals and macroeconomic implications for the nickel futures and spot prices are analysed. Our research team produce a nickel price range forecast as part of the report.

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Nickel Outlook – Q2 2023

Nickel sold off at the start of the year, falling by 23% YTD, weighed down by concerns about weak demand and rising output from Indonesia, despite low exports out of the region. NPI prices weakened sharply due to weaker demand fundamentals from the stainless steel segment, and although we do see some recovery in Q2, it will be marginal. While we still hold our optimistic view of recovery true, the positive momentum is being priced further down the curve...

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