Stainless-steel pipe, fittings and flanges report: December 2016
The global nickel market is forecast to enter into a “meaningful deficit” in 2017, according to Bank of American Merrill Lynch. BofA analysts say much depends on actions of the Filipino government in shutting down nickel mines due to environmental concerns. BofA’s forecast projects an average nickel price of $12,250 per ton in 2017 compared to its projected average of $10,019 in 2016. Delegates at Macquarie Research's LME Week Base Metals Outlook Seminar last month also pegged nickel to rise next year. A survey of delegates finds 79% seeing prices rise to $11,000 per ton at this time next year, including 46% who predict prices to top $12,000 per ton.