Nickel prices were pretty good for the first part of 2012, but researchers claim there will be a decrease, which is mainly caused for the large amount of supply that has been flooding the market reaching a surplus of 25,000 metric tonnes. The excess in surplus will have a direct impact on the price pushing it further down to an 8.38 USD/lb. There was an increase of 9.75 USD/lb in January, but that remains within the general trend in the last five years which has been a drastic decrease, with a range bound of 15 USD/lb to 5 USD/lb in nickel prices.