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Request for Real Time Nickel Prices: https://www.procurementresource.com/resource-center/nickel-price-trends/pricerequest
Nickel is a chemical element that is naturally found in the earth’s crust. It is hard, corrosion-resistant, and ductile in nature. It is whitish-silver colour with a golden tint in appearance.
Upon its combination with other metals, such as zinc, aluminium, copper, iron, and so on, nickel creates a wide range of alloys. It is extracted from two ores such as magmatic sulfides and laterites.
The category of transition metals includes nickel. Coins, jewellery, and other goods like heat exchangers and valves are made via nickel alloy.
Indonesia, the Philippines, Russia, New Caledonia, Australia, Canada, China, Brazil, and the United States are the top nickel-producing countries globally.
Key Details About the Nickel Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the nickel price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The nickel price trend, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Nickel Price Trend:
The major industrial application of nickel is in the production of coins, and wires. Because of its anti-corrosion characteristics, it is also employed in rocket engines and gas turbines.
Nickel is combined with materials to produce a wide range of alloys, which are further used to manufacture nails, pipes, and armour plates.
Other than that, it is utilised in desalination plants and boat propeller shafts because it resists corrosion.
It also finds its application in rechargeable nickel-cadmium batteries and nickel-metal hydride batteries, which are used in hybrid vehicles.
It is used as a catalyst for hydrogenating vegetable oils and is also utilised in industries such as aerospace & defense, oil & gas, energy & power, and automotive.
Key Market Players:
- Umicore N.V
- American Elements
- Vale S.A.
- MMC Norilsk Nickel PJSC
- Jinchuan Group International Resources Co. Ltd
- Glencore plc
- PT Timah (Persero) Tbk
News and Events:
- February 6, 2023: Indonesia has been quite active and operative considering the production of battery materials and electric vehicle production. Having signed for more than a dozen projects with international manufacturers, such as Hyundai, LG, and Foxconn, the country is now seeking Tesla Inc’s investment in Indonesia owing to the profuse nickel reserves of Indonesia. Indonesia has now become a major player in the electric vehicle industry.
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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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