Nickel market analysts were resolutely bearish during a pricing panel at the Fastmarkets' seventh International Nickel conference in Amsterdam on Wednesday June 5, forecasting that the London Metal Exchange three-month nickel price is unlikely to breach $13,000 per tonne this year.
The LME three-month price is currently trading below $12,000 per tonne, hitting an intraday high of $11,860 per tonne on Tuesday June 4. According to analysts speaking at the conference, this decline will continue into the second half of 2019. The LME three-month nickel price is likely to average $11,250 per tonne in the fourth quarter of 2019, said Colin Hamilton, managing director of BMO Capital Markets."$13,000 is three or four years down the line," he told delegates at the conference.Citi...