Commodity Market Report
Global nickel short-term outlook December 2023
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Report summary
Nickel prices are falling and while there is some opportunity to rally in H1 2024, the underlying decline will extend through 2024 and 2025. Already one nickel miner is entering administration while another defers a long-standing project. Lower prices will mean lower or negative margins for nickel producers; and for stainless mills too.
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