Nickel Surplus to Narrow on China’s Demand for Steel

Bloomberg reports nickel surplus may narrow on increasing stainless-steel demand from China and stalled mining projects have lowered prices.

The market news is quoted as saying,

Supply will likely exceed demand by 20,000 metric tons this year from an earlier estimate of 35,000 tons projected in April after the March 11 earthquake and tsunami in Japan, said Toru Higo, general manager of nickel sales and raw materials. Last year demand outstripped supply by 63,000 tons, the first deficit since 2006, he said.

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