Nickel has been trading below of $12980 since the last week of January, amid weak demand from China due to coronavirus outbreak. In the second half of December and in the first three weeks of January, the commodity was hoovering around $14,000 a tonne, gaining momentum on the back of a trade truce between US and China. In September 2019, nickel prices have reached a five-year high of $18,153 a tonne after Indonesia confirmed it would ban all exports of the metal in 2020. Nickel - data, forecasts, historical chart - was last updated on February of 2020.
Historically, Nickel reached an all time high of 54050 in May of 2007.
Nickel is expected to trade at 12824.75 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 13701.65 in 12 months time.