The global nickel market had a surplus of 23,900 metric tons in September, up from a surplus of 14,200 tons in the same month of last year, data from the International Nickel Study Group (INSG) showed on Wednesday.

Glencore announced on Monday it has reduced its nickel production guidance for this year by 9% to approximately 102,000 metric tons due to maintenance and strikes.

Global nickel production will outpace demand to the tune of 239,000 metric tons next year, according to the International Nickel Study Group (INSG).

The global nickel market had a surplus of 27,400 metric tons in June, compared with a surplus of 16,200 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Monday.

The global nickel market had a surplus of 11,900 metric tons in May, compared with a surplus of 13,900 tons in the same month last year, data from the International Nickel Study Group (INSG) showed on Tuesday.

Bofa cuts nickel price forecast to $22,063/t in 2023 ($23,222/t preciously); 2024 forecast unchanged at $21,250/t.

Nickel supply surplus over the next two years will keep nickel prices lower, according to the Australian government’s latest Resources and Energy quarterly report. The LME nickel price, which is forecast to average about USD23,000/mt in 2023, respectively USD...

The nickel market is facing a massive supply glut this year as surging Indonesian production continues to outpace global demand.