Nickel, who sank Tuesday at the lowest level for more than a year at $ 10,720 per ton, recovered during the week to finish a little more weekly. Metal is particularly appreciated for its use in the design of battery electric vehicles, but options for increased demand have turned to a fall of more than 30 percent in metal prices since mid-year, reached in April.
This week, "Investors have returned their appetite for metal at such low prices, but the overall trend remains down"commented Liz Grant, a broker in Sucden, one of the leading merchant merchants."We estimate that nickel will rise over the next 12 months"On the contrary, analysts of Societe Generale said the market was in a mild supply deficit and that battery manufacturers for electric vehicles should build shares. Finally, Chinese customs have reported that the country imported 68,600 tons of ferrules from Indonesia in October, the highest level in 12 months. Nickel stocks, under options and LME mandates, dropped to 164,000 tons.
Friday night, nickel valued $ 11,130 per ton (+ 0.86%) compared to $ 10,760 on Thursday night.