Or so asks an interesting post in Reuters last week regarding the nickel market. Back in 2007, nickel stocks had plummeted while prices rocketed. Today, we also have plummeting stocks and a rocketing price. Inventory does not appear as low today as in 2007, yet, nor has the price exceeded $24,000 per metric ton.
In 2007, prices peaked at nearly $50,000/mt in the spring of 2007 before crashing equally precipitously over the ensuing 18 months. Source: MetalMiner (SM) Insights Back then the market saw a shortage of refined nickel from suppliers…The Nickel Supply Squeeze Could Send Prices Even Higher
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