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Nickel: what is and what should never be

The world's nickel producers appear to be in rather dire straits. With prices languishing around US$9,100 per tonne, around 50% of the industry is making losses on a cash basis. However, producers are showing remarkable resilience, so why haven’t we seen more closures with prices at a five-year low?

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Demand from the stainless steel sector is expected to rise but there are no guarantees that means higher nickel prices

Demand from the stainless steel sector is expected to rise but there are no guarantees that means higher nickel prices

Put simply, it's because prices haven’t been low enough for long enough. But before providing a more detailed answer, let's look at how the industry has reached such a desperate position at the hands of...

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