Fitch upgrades nickel forecast on long-term uptrend
June 10, 2021
The nickel price will remain on a gradual uptrend in the long term as the global market remains in deficit, prompting Fitch Solutions to upgrade its long-term nickel price outlook from $15,750 per tonne to $16,500 per tonne for 2021.
In recent months, Fitch reports that prices have broadly recovered from a steep price correction in March. In May 2021, prices reached a four-week low in response to Chinese regulators warning domestic commodities firms to keep the market fair after base metals experienced a strong rally.