ING expects nickel prices to remain under pressure in the short term, as a global market surplus builds up and the slowing global economy mutes EV and stainless steel demand, Kallanish reports.
The Dutch financial institution says in a note that nickel prices should, however, remain at elevated levels compared to average prices seen before the historic LME nickel short squeeze in March 2022 due to nickel’s role in the global energy transition.
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