Nickel futures were trading around the $23,000-per-tonne level as rising production and fears of a demand-sapping global recession continued to pressure the market. Global primary nickel production could increase 19% in 2022 to 3.21 million mt, and the nickel deficit of 2021 should turn into a mild surplus of around 40,000 mt in 2022, according to Russia's Nornickel. Adding to the bearish outlook were lingering worries that a global economic slowdown triggered by an aggressive tightening from major central banks would dampen metal's demand. In early March, prices briefly topped the $100,000 mark amid a vicious short squeeze as China's Tsingshan Holding Group, one of the world's top producers, bought large amounts to hedge its short bets on the metal.

Historically, Nickel reached an all time high of 54050 in May of 2007. Nickel - data, forecasts, historical chart - was last updated on July of 2022.

Nickel is expected to trade at 24928.61 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 27795.09 in 12 months time.

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Nickel



Price Day Month Year
Coal 388.00 2.05 0.53% -9.13% 181.67%
Bitumen 4,459.00 -147.00 -3.19% -2.60% 31.46%
Cobalt 65,445.00 -5015 -7.12% -11.56% 29.59%
Lead 1,937.50 34.00 1.79% -10.43% -16.45%
Aluminum 2,444.00 -1.50 -0.06% -12.17% -4.45%
Tin 26,451.00 -323 -1.21% -23.71% -15.57%
Zinc 3,029.00 -128.00 -4.05% -21.79% 3.12%
Nickel 21,766.00 -877 -3.87% -22.43% 18.60%
Molybdenum 43.50 0 0% 0% -13.86%
Palladium 1,960.50 23.32 1.20% -4.52% -29.62%
Gallium 3,175.00 0 0% -4.51% 49.41%
Germanium 8,700.00 0 0% -1.14% 13.73%
Manganese 33.50 0 0% 0% 3.88%
Indium 1,605.00 0 0% 11.07% 42.67%
Soda Ash 2,920.00 0 0% 2.46% 55.15%
Neodymium 1,180,000.00 0 0% -1.26% 94.08%
Tellurium 431.50 0 0% -0.80% -26.24%
Iron Ore 62% fe 114.45 -15.55 -11.96% -19.60% -46.13%
Rhodium 14,000.00 0 0% -9.09% -30.35%


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
22643.00 23751.00 54050.00 3730.50 1993 - 2022 USD/MT Daily