Nickel makes a comeback

- August 17th, 2009

Nickel Investing News reports nickel prices making a comeback after the global commodity price meltdown. Nickel was one of the biggest sufferers in the global commodity price meltdown, but this year it has been making a steady comeback fuelled by investment demand, Chinese imports, and now, a stainless steel market recovery. LME nickel stocks are … Continued

Nickel Investing News reports nickel prices making a comeback after the global commodity price meltdown.

Nickel was one of the biggest sufferers in the global commodity price meltdown, but this year it has been making a steady comeback fuelled by investment demand, Chinese imports, and now, a stainless steel market recovery. LME nickel stocks are currently sitting at around 107,826 tonnes, equivalent to around seven weeks of world consumption. Nickel stocks have been consistent for the past few weeks- and analysts claim that this will cap nickel prices in the near future. Nickel’s current price of $21,055.00 per tonne brings it roughly above the marginal cost of production and as a result much of the world’s idled capacity will likely remain that way.

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