Medium Term Price Forecasts

摘要

LME nickel prices firmed, month-on-month. Low inventory levels and strong demand propelled daily figures above US$21,000 in late November. However, concerns surrounding a new Covid-19 variant resulted in nickel values dropping in the past few days. Price volatility is expected to remain a feature of the market in the near term. Nickel values are forecast to stay elevated, until the conclusion of the Beijing Winter Olympics in late February 2022. Prices are expected to trend downwards, next year, as supply improves.