Current high nickel prices remain "extremely vulnerable" to demand destruction or a supply-side response, says Goldman Sachs. Notes that "extraordinary tightness" in nickel inventories and further delays to projects in an already-thin pipeline pushed nickel to record highs, with the market currently close to balance "because there is little inventory left to consume." "We currently assume prices will retrace to $30,000 a metric ton on a 12-month horizon, but with substantial risk of a further increase in prices should the expected supply or demand adjustment fail to materialize," Goldman adds. LME nickel is last at $46,900/ton, +2% overnight and +4% from Monday's low.
豫公网安备41010502003434号