[Ferro-Alloys.com] 

BMI lowers outlook for nickel price

Research firm BMI has revised downward its nickel price forecast for this year to $20 000/t from $20 600/t as the market remains in a supply glut.

Simultaneously, weak Mainland Chinese demand and a limited growth outlook across major markets will place a cap on prices.

Nevertheless, BMI foresees some support from the weakening of the dollar throughout this year, which will prevent prices from falling back to pre-pandemic levels.

BMI expects the nickel market to remain in surplus this year, with the balance hovering at about 337 200 t, amid a rise in supply from key producers such as Indonesia while a subdued global economic outlook presents downside risks to demand.

• [Editor:邢亚敏]