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Bloomberg reported that nickel is bottoming as prices go below the cost of producing alternatives such as the nickel pig iron or NPI.
Bloomberg reported that nickel is bottoming as prices go below the cost of producing alternatives such as the nickel pig iron or NPI.
As quoted in the market news:
Prices have fallen 13 percent in the past year and are now below the cost for China to produce nickel pig iron, or NPI, a substitute derived from lower-grade ores, at an average $15,700 a metric ton, Barclays Plc says. Nickel, which traded at $15,587 yesterday, will go as low as $14,500 this year, the median of 12 analyst estimates compiled by Bloomberg shows.