RE:Nickel price will fall soonYou are correct, however fundamentals (ie physical demand) did not drive this market - speculation / future demand did. The nickel market has been in surplus for years. It continues to be in surplice. It is projected to be in surplus for another year or two. Battery makers are scrambling fir long term supply and speculators are taking advantage. Through in rampant money printing and inflation. So yes we won't go up in a straight line but I don't think you'll see the rices you mentioned. More importantly there are opportunities to enter into supply agreements at favourable prices regardless of the volitility on the spot market.
Stratocheif wrote: The pandemic caused a collapse of spending on services of all types .. air travel, cruises, dining out etc. People in developed countries had nowhere to spend thier discressionary income. So the money they normally spent on services they used to buy durable goods...new home appliances, cars, and all sorts of things. Purchases of durable goods by consumers rose 43% in the past year. So much "stuff" was purchased that there are dozens of container ships anchored off the port at Los Angeles because the port is overloaded and cant receive them. This is why the price of nickel went up. Now as the pandemic fades people will rush back to service type spending and there will be a huge drop in durable goods purchases...how many times can you buy a new stainless steel fridge. Nickel will be in the $4 to $5 range next year