Nickel -Global demand-supply mismatch to propel prices to higher levels

摘要

Nickel prices have been the outperformer in the entire base metals segment so far as a result of the intact long term demand for EV vehicles and diminishing inventory levels in LME tracked warehouses. The prices in the month of May have surged around 12% in MCX as well as LME futures exchange and the uptrend still seems to continue. The levels of stocks at LME tracked warehouses had fallen around 6% on monthly basis and in the case of nickel the metal prices are closely linked with inventory levels at warehouses. The prices have got support from the lower inventory levels which in previous month fell only by 4%. The cancelled warrants on monthly basis have declined around 23 % which is same as last month suggesting the robust demand outlook remained intact.