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Cupro Nickel Price in April

2023-06-29 20:20:02  Knowledge

Copper nickel is used in many alloys, including coins. Coins made from this metal can be found in circulation and are a popular addition to any collection. Nickel is an exceptionally versatile alloy, able to withstand both high and low temperatures. This is why it is used in a wide range of applications, from aerospace to electronics. It has been used in coins for thousands of years, with the earliest known coin containing up to 10% nickel dating from BC 235.

cupro nickel price has been on a downward trend for the past several months, but has recently begun to stabilise. This is due to supply concerns, as well as uncertainty over the outlook for global economic growth. However, rising production in Indonesia is expected to continue to put pressure on the nickel market next year, according to Fitch Solutions.

The price of cupro nickel in April varied across the globe, with prices declining in China and Brazil but increasing in South Africa and India. The price in the US was 214 USD per metric ton, which represents a 2% increase compared to the previous month and a 20% decline compared to the same period last year.

In 2023, nickel prices are expected to rebound from their recent lows. Demand for the metal used in stainless steel production should rise, and EVs are also a driver. However, concerns about the outlook for global economic growth may weigh on investor sentiment and cause a correction in the price of nickel.

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