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

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October 2019 | Base Metals

Nickel: Q4 2019 price forecast raised

With nickel prices starting Q4 at a higher level than we had previously expected, we have raised our average base case forecast for the final quarter by $1,000 per tonne, to $15,800 per tonne. We continue to believe that prices still have speculative froth to work off and will duly correct lower during Q4, assuming there are no more bullish surprises

Following the publication of our monthly Stainless Steels Market Tracker report last week, here we discuss some of the impacts of the Indonesia-driven nickel price surge on the stainless markets. Following the large stainless steel price increases seen in September for the most common, nickel-containing grades, October will see yet further sharp increases. In total, prices on grade 304 stainless steel will have jumped by almost $400 per tonne since August, an increase of around 15%. Behind the price rise is of course the rising cost of nickel, which is passed...


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