The LME monthly average cash nickel price moved upwards, in November. Daily values are hovering around US$16,000 per tonne. Production outages at mines, soaring demand in China and hopes of a Covid-19 vaccine increased investor confidence, over the past four weeks. Currency exchange rate movements were also a positive factor. Further rises in selling figures are expected in the coming months. Concerns about shortages in the market are likely to lift sentiment. A global economic recovery is forecast to boost consumption in 2021. Moreover, the move towards electric vehicle sales will add to the demand from battery manufacturers supplying this sector.
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