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S&P Global Ratings sees Nickel Prices in 2019 at USD 17000

Metal News - Published on Tue, 15 Oct 2019

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S&P Ratings said the upside to nickel could be limited. The metal has been supported throughout 2019 following revised export regulations from Indonesia, one of the world’s biggest suppliers. It said “We currently believe the major bullish impact is likely to be relatively short term, with market stabilizing through2020. The demand stemming from the stainless steel industry, though showing supporting healthy statistics recently, is susceptible to fluctuations driven by trade tensions, and we deem the current level of nickel prices to be unsustainable for the steel producers.”

S&P Ratings sees nickel prices averaging USD 17,000 per tonne for the remainder of 2019, USD 15,000 per tonne in 2020, USD15,500 per tonne in 2021 and USD 16,000 per tonne in 2022.

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Posted By : Rabi Wangkhem on Tue, 15 Oct 2019
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