Nickel Investing News reports demand for nickel is at a 4 year low.
Nickel prices have rallied as much as 14 per cent since the start of the month, but are likely to remain volatile. Analysts predict gloomy prospects for nickel, given the enduring downturn in the stainless steel market, the main consumer of nickel.
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Nickel Investing News reports nickel having the slowest price to rebound.
Output reduction in Japan and China decreased production by 6.1 per cent. World demand was down 1.9 per cent from the same period of the previous year. Nickel supply has outpaced demand every month since February 2007, when the market had a deficit of 4,600 metric [...]
Nickel Investing News reports nickel did not perform well in 2008, making it the worst performing commodity.
Despite weak fundamentals, nickel has kicked off 2009 with a rapid upswing in value. In just 3 days, nickel gained approximately 40 per cent on a buying spree that followed the annual reweighting of the commodity indexes. Analysts were cautious, [...]
Nickel Investing News reports nickel prices have been hit pretty hard trading at $10,000 per tonne as compared to $33,000 in February on the London Metal Exchange.
When it comes to mining, Australia is taking the brunt of the hit. The large amounts of miners in the area are struggling to cope with the metal’s recent [...]
Nickel Investing News reports nickel prices remained low due to less demand for stainless steel.
Towards the end of last week, though, things started looking up for nickel and the commodities in general, as buoyant metal prices sparked a strong rally in mining shares.
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Tuesday, April 21, 2009
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