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Nickel Surplus May Jump to Most in Four Years on Slow Demand
Nov. 14, 2011 04:42PM PST
Base Metals Investing Bloomberg reported a global nickel surplus may soar in 2012 to the highest in four years as Europe’s debt crisis and a sluggish U.S. economy cuts demand.
Bloomberg reported a global nickel surplus may soar in 2012 to the highest in four years as Europe’s debt crisis and a sluggish U.S. economy cuts demand.
As quoted in the market news:
Supply will likely exceed demand by 54,000 metric tons in 2012, the biggest surplus since 2008, said Toru Higo, Sumitomo Metal Mining Co.’s general manager of nickel sales and raw materials. Demand outstripped supply by 63,000 tons last year, the first deficit since 2006, before moving to a surplus of 11,000 tons this year, Higo said.