Nickel futures have been trading above $17000 per tonne since December 10th, close to the highest level since October of 2019, amid increasing demand from Chinese steel mills, as the economy rebounds from the coronavirus-hit. Adding to the upward pressure, demand for battery-grade nickel continues to surge from producers in Germany and Indonesia.
Historically, Nickel reached an all time high of 54050 in May of 2007. Nickel - data, forecasts, historical chart - was last updated on December of 2020.
Nickel is expected to trade at 16662.91 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 14562.84 in 12 months time.