Nickel’s fortunes reverse as undersupply concerns ease

Compared with other battery raw materials, nickel prices surged in the second half of 2019 on the back of supply shortage fears with low LME stocks and an Indonesian ore ban being brought forward two years to 2020.

LME stocks are now back at March 2019 levels suggesting that a supply shortfall prompted by the Indonesian ore ban may have been overstated.

Only two months down the line and supply shortfall fears have dissipated, with prices following a downward trajectory this year. In January both the Benchmark Minerals . . .