Pig Iron’s Pain Proves Boon for Nickel Miners Norilsk, Vale: Commodities

Oct. 26, 2011 02:20PM PST

Bloomberg reported nickel is set to rebound as Chinese steelmakers lead a recovery in demand.

As quoted in the market news,

Nickel’s 20 percent slump this year has made it cheaper than pig iron, a substitute made from low-grade ore from Indonesia and the Philippines. Nickel, used to strengthen stainless steel in everything from kitchen sinks to aircraft- fuel tanks, may rise 16 percent next year as mills boost purchases, Societe Generale SA said.

Click here to read the full Bloomberg report.