Analyst Pin-board Too early for the long-term bull case: Will the nickel price keep it high?
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· A roller coaster ride for nickel in 2022 to reach a 15-year high but it is expected to stabilize again in the longer term · Russia is the main provider of class I nickel mining while China is the largest player for refining · Near-term demand is still dominated by stainless steel · Hard to bet on a remained well-priced story of nickel in an evolving rapidly EV battery industry A roller coaster ride for nickel in 2022 to reach a 15-year high Nickel price rose steadily through 2021 and became jittery in Feb 2022 (nearly tripled in three days) when supply shortage fears arose due to sanctions of Russia – world’s top nickel provider. Nevertheless, Jul 2022 has witnessed a sharply fell of nickel price to $19,333/ton. The price of nickel is expected to stabilize again in the longer term (Q2 2022 Nickel report- Fitch solutions). Nickel is a metal that is usually found as compound rather than as single element because nickel reacts easily with oxygen in its pure form. Primary nickel can be sorted into two major group: Class I (high-grade nickel) and Class II (low- grade nickel). |
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