Nickel Investing News » Nickel prices to decline due to low purchases by steelmakers

Nickel prices to decline due to low purchases by steelmakers

July 22, 2008 @ 5:41 am In Nickel Market News

India's largest stainless steel producer, Jindal Stainless, commented that nickel prices can fall further due to decline in purchases made by steekmakers.

Arvind Parakh, a director at the New Delhi-based company, said:

Nickel will average between $20,000 and $25,000 a metric ton this year compared with an average $37,089 a ton last year.

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