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Nickel (Ni) is a silvery-white chemical/metallic, the fifth most common element with a shiny and lustrous appearance. It is a ferromagnetic metal from the periodic table's Group 10 and is naturally found in the environment. It is present in the planet's crust and can be found in animals, plants and seawater in small traces.
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It has various properties, like being corrosion and oxidation resistant, ductile, hard, and malleable, as well as an excellent electricity and heat conductor. It has an atomic weight of 58.71, and a density is 8.902. Its respective melting and boiling points of 1453° C and 2913 °C.
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, chart, including India Nickel price, USA Nickel price, 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 demand for Nickel is driving forward due to the metal's application in manufacturing various superalloys with properties such as strength, ductility and resistance to heat and corrosion.
Since it's an excellent choice for producing alloys, it can be employed to make products like electric ovens, toasters, desalination plants (for seawater conversion to make fresh water), turbine blades, and boat propeller shafts. It is also used n stainless steel production.
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Other uses of the metal bolstering the market expansion include its role in rechargeable batteries, plating, foundry products, making coins, catalysts and other chemicals; wire-making, gas turbines and rocket engines etc.
Key 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 & Recent Development
- 17 April 2023- The price outlook for nickel followed a sluggish trajectory in spite of its stocks on the London Metal Exchange (LME) declining to 43,000 tonnes lower by more than 40 per cent year-on-year.
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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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Reference Link - https://theprocurementexpert.com/nickel-prices-trends-forecasts/
Because it is corrosion-resistant, nickel is used to safeguard other metals by plating them. However, it is mostly utilised in the creation of alloys like stainless steel
