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Home Steel News NAC expects nickel price to increase on possible supply limit & growing demand
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NAC expects nickel price to increase on possible supply limit & growing demand

11 Mar 2025 15:35 reported by Joy Liu

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Nickel Asia Corporation (NAC), the largest lateritic ore producer in the Philippines, expects nickel prices to rise due to potential supply constraints and increasing demand from the stainless steel and electric vehicle (EV) sectors.

The Philippine Nickel Industry Association (PNIA) projects global nickel consumption to grow by 5% to 3.514 million tons in 2025, supported by demand for stainless steel and renewable energy, higher than the production growth of 3.8%.

Nickel prices, recently at a four-year low, may average US$16,750/ton this year, with a possible surge to US$20,000/ton early this year.

Industry concerns include China’s slowdown in stainless steel output and the shift to lithium iron phosphate batteries. Besides, there are also geopolitical risks in Indonesia and the Philippines. As a result, NAC and DMCI Mining have signed a memorandum of understanding (MoU) to explore a nickel processing plant in the Philippines.

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Metal Price Index

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  • Created with Highcharts 4.0.41. Jun1. Jul1. Aug23002400250026002700
  • Created with Highcharts 4.0.41. Jun1. Jul1. Aug900092509500975010,00010,250
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LME Official Bid Price

  • USD / MT
  • Cash
  • 3 Months
  • Zinc
  • 2,717.00
  • 2,726.50
  • Aluminum
  • 2,579.50
  • 2,579.50
  • Copper
  • 9,634.50
  • 9,635.00
  • Nickel
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  • 15,000.00

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