Interesting read on Nickel demand from Goldman from April 28 2022, so fairly recent. They are forecasting LME Nickel price to be $42000 over next 12 month with an average of $30000 medium term. Certainly, the market conditions can change so is their analysis. That is to the discussion regarding the price of Nickel in the recent feasibility study ($25000) and how it is too high for the earnings estimates etc.
It is worth to read the full report as it covers many great points. Deficit for class 1 Nickel will continue to take place till year 2030 along with increasing demand (page 9-10).
https://www.goldmansachs.com/insights/pages/gs-research/nickels-class-divide/report.pdf
Ann: TECH Project Feasibility Study (amended), page-25
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