INDUSTRY NEWS
Saturday, February 05, 2005
Nickel benefits from China's appetite.
The bullish nickel market is seen to continue with China providing increased demand for the product. Prices should remain trading in the $6-7/lbs range, but continue to be volatile. Greater stainless steel production from Korea, India, Europe and especially China will ease the global nickel demand only slightly. Huge destocking in China, substitution away for manganese and extra secondary availability have raised prices. Major delays in supply from new sources have depleted traditional mines and caused failures of the pressure acid leach technology to provide quantities needed to ease historically low nickel inventory levels.
posted by MetalPro Sales at 4:30 PM
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