World nickel prices to fall by 19% by 2025
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Prices for nickel on the international market by 2025 will fall by 19% from current levels, follows from the report of the consulting company B1 (former EY in Russia), which was reviewed by Vedomosti. Experts expect the average price in 2023 to be $22,660/t, in 2024 – $20,680/t, and in 2025 – $19,290/t. The price of a three-month nickel futures on the LME on March 29 was $23,743/t. Thus, according to B1 forecasts, by 2025 the metal price should decrease by 19%.
The nickel market has been one of the most volatile metals over the past year. On March 8, 2022, as a result of a massive reduction in short positions and concerns about supply disruptions from Russia, the price of nickel on the London Metal Exchange (LME) rose above $100,000/t for the first time in history. This led to the suspension of trading and the decision to cancel all trades made that day. Trading was resumed only a week later. The quotes then declined to a low of $19,100/t in mid-July 2022 before rising to $30,000/t by the end of the year. Since the beginning of 2023, the metal price has already decreased by 22%.
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