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Home / Metal News / Nickel Prices to Run under Pressure from Weak Supply and Demand

Nickel Prices to Run under Pressure from Weak Supply and Demand

Mar 15, 2023 09:29

Source:SMM

On the supply side, nickel prices rebounded slightly yesterday.

SHANGHAI, Mar 15 (SMM) - On the supply side, nickel prices rebounded slightly yesterday. The spot premiums stabilised, and intraday spot transactions were poor. Traders and some NPI plants undercut their prices due to the high inventory and the slack market. On the demand side, according to SMM research, the spot quotations of stainless steel and the stainless steel mills’ guidance prices varied greatly. Alloy companies mainly purchased on demand amid the poor orders. To sum up, the pure nickel sector faces weak supply and demand, weighing on nickel prices.

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