09
Oct
05:43
BMI cuts nickel price forecast on weak market fundamentals
BMI, a Fitch Solutions company, has cut its 2023 nickel price forecast due to weak market fundamentals, Kallanish notes.
The research house is revising its prediction to $22,000 per tonne from $23,500/t previously, as global nickel production continues to rise, pushing the market into a deeper surplus.
At the same time, it believes weak demand for nickel and nickel-based products will fuel further price declines, weighed down by a weak global growth environment …
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Very good overview of the weekly steel market.
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