Nickel price may return to stability due to mild demand increase
22 Sep 2020 16:13 reported by Isora
The international nickel price kept running downward last week. The increase of Indonesian nickel production brought stress on the nickel price. However, since the demand in the market was expected to be good, it was considered that after a short-term vibration, the nickel price would very likely return to a much stabler trend.
According to statistics, in the first 3 quarters of this year, the global stainless steel production was expected to drop by 8% year on year, which has caused worries of the participants in the market.
On the other hand, the demand for electric car battery increased and China's stainless steel demand was stepping into its peak season. Due to these reasons, it was not necessary to feel pessimistic about the future of the nickel market.
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