Global nickel short-term outlook April 2023
A few days of over-active trading sent nickel prices up in the third week of April despite a large global surplus. Equally, the economic rebound in China is taking its time to get going and both stainless and battery segments there are suffering. It's no better in the west. But dig into the detail and it is clear that whatever the excesses of NPI production are in China and Indonesia, Class I metal supply is tight everywhere else.