According to Morgan Stanley, the nickel price is likely to rebound while Goldman Sachs Group indicated that it is a good opportunity for nickel price to move upward once again.

Currently, the nickel price on the LME has increased by 4.4 percent compared with that of April 19.

Besides, Goldman Sachs expects that the nickel price will keep rising due to the strong demand of stainless steel market and the interruption supply of nickel by Vale.