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Nickel prices expected to move firmly

4 Nov 2020 15:22 reported by Joy Liu

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The current monthly average LME nickel price is higher than that in the previous month. The future nickel price was still constrained by the COVID-19 epidemic and fewer transaction volumes of stainless steel in China.

However, the tighter supply of Indonesian ferronickel and higher costs of nickel ore was expected to a backup for nickel prices.

According to the current market condition, the short-term nickel price will be weaker due to macro factors, while it was expected to move firmly due to uncertain supply.

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