The Conversation (0)
Bloomberg reported that nickel supplies will be higher than demand by about 52% and will have a surplus of 82,000 metric tons this year due to weak consumption globally, according to Macquarie Group Ltd.
Bloomberg reported that nickel supplies will be higher than demand by about 52% and will have a surplus of 82,000 metric tons this year due to weak consumption globally, according to Macquarie Group Ltd.
As quoted in the market news:
From a fundamental perspective, there is no reason for optimism about the nickel price in 2013 unless there are large- scale production cuts,” Lennon said. “Apart from Chinese nickel pig iron, producers in Australia and Canada are also suffering from a high exchange rate against the U.S. dollar, and further cuts here seem likely.