China Prefers Pig Iron Over Nickel This Time

This year Nickel produce and demand decline as China look for a lower cost of alternatives for the said metal. Since the position has been reduced, it will be hard for the market to maintain upward momentum.

According to Nick Moore, head of commodity strategy at Royal Bank of Scotland Group Plc in London, who has followed metals for more than 25 years, “The price is way ahead of itself and will serve as nirvana for world nickel producers. The higher the price, the more likely a deluge of supply comes to market.”

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