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Nickel Investing News reports nickel prices continue to show a weaker trend due to decreased demand from stainless steelmakers. In the second quarter of 2008, LME nickel prices averaged $25,859 a tonne, which was lower by over 11 per cent compared to the first quarter average of $29,120 a tonne. Despite reports of shrinking stainless demand, …
Nickel Investing News reports nickel prices continue to show a weaker trend due to decreased demand from stainless steelmakers.
In the second quarter of 2008, LME nickel prices averaged $25,859 a tonne, which was lower by over 11 per cent compared to the first quarter average of $29,120 a tonne.
Despite reports of shrinking stainless demand, the International Stainless Steel Forum (ISSF) reported that it expected an increase in production as a number of projects in Australia, Turkey and Brazil are scheduled to come online. The expected world mine production for 2008 stood 8.4 per cent higher at 1.6 million tonnes, compared to the previous year.
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