Bofa cuts nickel price forecast to $22,063/t in 2023 ($23,222/t preciously); 2024 forecast unchanged at $21,250/t.

Nickel supply surplus over the next two years will keep nickel prices lower, according to the Australian government’s latest Resources and Energy quarterly report. The LME nickel price, which is forecast to average about USD23,000/mt in 2023, respectively USD...

Russian Nornickel expects primary nickel demand rise to 3.35mn t in 2023.

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

Fastmarkets sources continued to insist that prices were in parity, as rare as the phenomenon is.

At present, of the 17,244 tonnes of on-warrant nickel in LME warehouses in Rotterdam, briquette accounts for more than 92%.

Nickel price trend on December 14th

LME nickel price trend on December 11th