Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2019 | Stainless Steels

Nickel prices rallying again: Nickel Highlights

We have been asked whether Vale’s tailings dam disaster at its Córrego do Feijão iron ore mine over the weekend will impact nickel and whether this is what’s driving the price this week.

Nickel has rallied well off its early-January low of $10,525 per tonne and took a breather last week after running into some important technical resistance levels in the high $11,000s. As we noted in our Base Metals Forecaster during mid-January (when that consolidation was starting), dip buying seemed quick to emerge into the first sign of weakness, which felt like a bullish indicator. Sure enough, nickel has now resumed its uptrend and has moved on to $12,160 per tonne – matching the highs last seen in early November.

We have been asked whether Vale’s tailings dam...


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