Nickel Surplus Expected To Rise

Bloomberg reported a global nickel surplus may expand for a third year to the highest level since 2008 as supply from new mining projects outweighs China’s demand growth.

As quoted in the market news:

Supply will likely exceed demand by 60,000 metric tons in 2013, said Toru Higo, Sumitomo Metal Mining Co. (5713)’s general manager of nickel sales and raw materials. Supply outstripped demand by 40,000 tons this year and 22,000 tons in 2011, he said.

Click here to read the full Bloomberg report.