Nickel price to average $20,000 mt in 2015 on ore supply tightness: analyst

“Prices will average around the $20,000/mt level due mainly to the Indonesian nickel ore ban and an expected shortfall in supply in early 2015,” Alto Capital research analyst Carey Smith said Friday. The average price for 2014 is expected to be $18,000/mt.

Around six to 10 nickel pig iron plants were currently waiting for approval in Indonesia, Smith said, adding that he did not, however, expect all the projects to go ahead. The earliest the plants will come online will be the end of 2015, he said.

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