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Nickel prices grew by 8.5 percent in November continuing a medium-term growth. Since February, when the price of nickel reached a 13-year low, nickel prices have rebounded by 34 percent and averaged at $11,128.9 per metric ton.The price of Nickel is the indicator of a situation in different industries such as steel and car production. Because of nickel is a very popular component of alloys. The previous year was not very calm for the nickel market. The new direction of politics in China and ecological problems in the Philippines reduced the supply of nickel. Some of the economists expect nickel deficit and high prices as a result.

The price of Nickel is the indicator of a situation in different industries such as steel and car production because nickel is a very popular component of alloys. The previous year was not very calm for the nickel market. The new direction of politics in China and ecological problems in the Philippines reduced the supply of nickel. As a result, some of the economists expect nickel deficit and high prices.

Leading international agencies made the following nickel price predictions:

  • The World Bank in its commodity forecast report estimated that the average spot price for nickel will fall slightly further in 2016 to $9300 per metric ton from $11,863 in 2015. Over the next decade, the price will grow to $20,000 per metric ton.
  • The IMF's report revealed a similar expected decline from $11,863 per metric ton in 2015 to $9,611 in 2016 and growth to $11,304 in 2017. What for longer term forecasts, experts estimate a very slow growth to $11,693 per metric ton by 2022.

Dive deeper into historical commodity prices from the World Bank and IMF or commodity price forecasts.

You can also explore with Knoema a variety of other critical commodities, including:

gold | silver | copper | aluminum | nickel | zinc | coal | natural gas | crude oil

As you examine commodity prices and forecasts, you may also be interested in economic forecasts for the G20 countries across the following indicators: GDP growth | inflation | unemployment | government debt | current account balance | external debt.

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