Last year, nickel savings fell into the spotlight, thanks to the tropical climate in the nickel floor, which drove prices down, and so on. reached the astonishing 100,000 dollars per ton.
This is the background of the London-based metals shop in an existential way. However, in the case of nickel, the exact opposite is true. Nickel prices will end in 2023, up 21% from the beginning of the year to 23,300 dollars per ton, thanks to heavy refining. Production in Indonesia continues to challenge the global pressure. According to the International Nickel Exploration Group (INSG), the metal stockpile saw an excess of 239,000 tonnes of rolling and stockpiling, which is too much This is a higher figure than the government’s last forecast, which expected the surplus to reach 171,000. until 2023, Oіlріse writes.
Global nickel prices are on track to record a 6.1% gain in 2023. Nickel prices will not increase at all in 2022. The global a a non-required contract states that the non-required contract has fallen c 5 .2% per year. The stainless steel industry is the largest consumer of nickel, accounting for 75% of global production in a typical year.
However, the production of electric vehicles requires nickel and the automobile industry will be a major consumer. According to Adams Intelligence, 17,137 tons of nickel were used in batteries for electric vehicles as of February.
All of the nickel-plated parts have been polished before cleaning the products. Grade II nickel output continues to contract, but grade I nickel output – the LME’s deadliest grade – is down 28% so far this year to 40,032 tonnes. it, the lowest level since 2007.
Nickel plates are not the only ones that repeat the process. The World Bank predicts that real estate prices worldwide will fall this year at the fastest rate since the beginning of the COVID-19 pandemic.
According to the bank, property prices will grow by 21% in 2023 on an annual basis, while energy prices are expected to fall by 26%. Ahead of forecasts is Cypriot crude, which will hit 84 barrels per barrel this year, down 16% year-on-year, while US and European natural gas prices are expected to to fall in half. They also predict that coal prices will fall 42% in 2023, while coal prices will fall 37%, marking the biggest annual decline since 1 976 onwards
