Nickel PricesIn the last three recessions, the price of nickel has declined from peak to trough by between 36% (Covid recession) to as much as 80% (the so called Great Recession of 2007-09). In the 2000-01 recession the decline was 50%. So far in this cycle, the price is down 40% from the peak. Take your pick, if this recession is mild, we may have seen most of the downside. If it turns out to be a severe recession, there could be significantly more downside.