Fitch Raises Forecast for Future Pricing Levels for Nickel
Fitch Solutions recently upgraded its long-term price outlook for nickel to $16,500 from $15,750 per ton. This comes as the price of the metal continues rising, given the international market deficit. Despite this, nickel prices on the London Metals Exchange are expected to decrease in the coming months as the production of the metal increases and the demand from steel production is stabilized. Fitch also reported that prices had recovered from a price correction that took place in March after Tsingshan, a producer of stainless steel in China, announced that it planned to considerably increase its production for nickel for…