Nickel – Bloomberg reported that nickel rose to a 3-month high as stainless steel companies restock on metal amid signs of positive economic growth.
Articles Tagged "stainless steel producers"
Nickel – The price of nickel has fallen to $18,595 per tonne on surplus and the increased use of nickel-pig-iron in China. Analysts, however, are optimistic that low prices will encourage China's nickel consumption and lead to a stabilized 2012 nickel market.
Nickel – Nickel is projected to be in a surplus over the next year and a half, as weak stainless steel demand has caused cuts in production. There are supporting factors as the market heads for its bottom.
Though inventories of nickel stored at the LME warehouses have slipped for a sixth consecutive time, with the Chinese traders coming back to the market, demand for nickel is bound to perk up. Dow Jones reported that 3-month nickel ended the day at $9.40/lb, a new high for 2010 and a gain of 12 [...]
Nickel is set for good times in 2010. Russia’s government has decided to reimpose a 5% tax on nickel exports that was suspended in January. Any takers? They have done it again. After a 6-month hiatus, Russia is set to re-instate its 5 per cent export tax on nickel next month. For the [...]
Nickel Investing News reports nickel prices fell almost 80% in less than two years, In the meantime, it is going to take time for the nickel industry to adjust to the current economy. The global nickel market will be in an 80,000 tonnes surplus in 2009, as falling demand continues to outpace cutbacks made by [...]
Nickel Investing News reports nickel markets fell with declining steel market production in 2008. Analysts question how enthusiastic nickel will be at returning to its previous highs. Overshadowed by the economic catastrophe is the fact that in late 2007 stainless steel producers found substitutes for then overpriced nickel in high nickel containing steels. Before a complete [...]
Nickel Investing News reports nickel prices aren’t shining in the near term and has fallen over 80%. Nickel futures declined this week on the MCX. The most actively trading, the nickel March contract, is trading down 1.58 per cent against its earlier close of Rs 505. Nickel April contract is trading lower by 1.41 per [...]
Nickel Investing News reports nickel prices remain low as manufacturers of stainless steel are using less nickel. China’s stainless steel producers are buying less nickel as a result of shrinking stainless demand, and at the same time the companies are making more products with low nickel content. Production of the rust proof metal is likely [...]
Nickel Investing News reports nickel futures in London traded 5% lower making it more expensive for holders of other cuurencies. Nickel dropped by 4.7 per cent to US$19,300 a tonne, it’s lowest since August 20, 2008. LME inventories rose 1,206 tonnes to a four-month high of 48,228 tonnes and the metal is down by 24 [...]