0229 GMT - LME nickel prices could keep rising as the nickel market tightens amid increasing industry costs, says Macquarie's Jim Lennon. "We now think production may not rise at all" this year, which could lead to a global market deficit for 2026 versus Macquarie's previous forecast of a surplus of 90,000 metric tons, Lennon says. He expects a floor under LME prices around $17,000-$18,000/ton. LME three-month nickel trades at $17,610/ton. The metal traded at less than $15,000/ton as recently as December. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 11, 2026 22:29 ET (02:29 GMT)
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