Is there a connection between nickel's price movements and the developments in the copper market? Nickel Investing News asked Wayne Atwell, Managing Director and Senior Metals Analyst for Rodman & Renshaw.
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.
Sherritt International has posted a 70% slipped in second quarter profit, hurt by lower nickel, cobalt and oil prices resulting from weakened global industrial demand. For full story, click here
Mr Adrian Gardner associate consultant for the Brook Hunt unit of Wood Mackenzie forecasts that with stainless steel output crashing worldwide this year, demand for key alloy nickel is sliding and its world price will average USD 5.10 per pound, a 47% drop from USD 9.57 in 2008. For full story, click here
With stainless steel production crashing worldwide this year, demand for key alloy nickel is sliding and its world price will average $5.10/lb, a 47% dip from $9.57 in 2008. For full story, click here
Prices of nickel recovered smartly on the non-ferrous metal market here today due to fresh industrial demand coupled with higher advices from London Metal Exchange. For full story, click here
Prices of nickel recovered smartly on the non-ferrous metal market here today due to fresh industrial demand coupled with higher advices from London Metal Exchange. For full story, click here
Vale has forecasted that global nickel demand is showing some limited signals of improvement. For full story, click here
Nickel futures have regained strength to trade 0.49 per cent higher in early trade on the Multi Commodity Exchange today as speculators were seen covering-up their positions, driven by a pick-up in demand for the metal in the physical markets. For full story, click here
The global nickel market will be in an 80,000 tonnes surplus in 2009, as dipping demand continues to outpace cutbacks made by producers. For full story, click here
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