Commodity Market Report
Global nickel short-term outlook April 2024
Report summary
Positive sentiment prevails. Nickel prices reach their highest level for seven months as the LME places restrictions on Russian metal, potentially tightening Class I supply outside China. But double digit growth in global demand is still not enough to absorb all the new supply coming on stream in Indonesia. And another Australian operation falls under margin pressure, taking more nickel units out of circulation.
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