Research

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

Change font size:   

January 2020 | Base Metals


Nickel: Fighting resistance


Nickel’s current technical setup seems to have prices capped around $14,000 per tonne, with the continued build in LME stocks contributing to the resistance by dampening short-term price sentiment. Longer term, nickel’s bullish narrative remains intact.

Complacent EV bulls burnt by 2019 downturn... While the battery market still only accounts for around 5-6% of nickel market share versus stainless steel’s 60%-plus, we have seen on numerous occasions in the recent past that developments in the EV and Li-ion battery sector can have a disproportionately large impact on nickel market sentiment and price direction. So with almost a complacent bullishness over the outlook for EVs, it is understandable that nickel bulls were in shock last year when growth in the key Chinese market went into reverse after the government cut subsidies. ...as Chinese sales fell short of the government’s 1.5 million target Full year figures from the...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?