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Nickel price is stabilising but a rebound might not happen soon
Nickel prices are hovering near their lowest level since 2021 as investors focus on the ongoing demand and supply mismatch. According to TradingView, the price of nickel was trading at $16,547 on Wednesday, a few points above last year’s low of $15,843. It has tumbled by almost 50% from its highest point in 2023. Nickel is not the only battery metal that is recoiling. Lithium, an important part of batteries, has dropped by over 80% in the past 12 months to $13,200 per ton. It has dropped to its lowest level since 2020. Similarly, cobalt price has also tumbled to $29,135 from a high of almost $50,000 in 2023. This ... (full story)