The nickel market is an international one, and very small events can have a major effect on the cost of nickel across the world. With the market having faced many issues over the past few years, the future may still seem very uncertain on the surface but, fortunately, recent stability has made it easier for companies to work out when and where to buy nickel to ensure they get the best prices at the right time.
The biggest changes the market is likely to see over the coming years will are likely to be initiated by China, where demand for nickel is continuing to rise.
Up to 2010, demand for nickel had dropped considerably, and despite fewer supplies of sulphide ores being discovered this has meant that there is currently a plentiful supply. In turn, whilst the future may see prices rise due to a drop in supply, today’s current need for nickel when weighed against the current supply will make it a favourable time for any business to source such a metal.
However, if nickel is an integral part of your business, whether as supplier or as a business that utilises such a metal, knowing the current state of the market will only help you so much. Instead, nickel price forecast is much more important and utilising quarterly reports to constantly refine your approach to selling or acquiring nickel will be vital, whilst understanding the true value of the metal in any given geographical region will be priceless. So be sure not to simply look at the short-term market, and instead utilise forecasts that look as far ahead as possible.